Former Revlon Inc. legal chief Penny Tehrani-Littrell has joined Accordion Partners LLC, a private equity-focused financial and technology consulting firm.
Tehrani-Littrell as a managing director and general counsel oversees legal and compliance, according to her biography page on the company’s website. She announced her new role via LinkedIn.
She stepped down last year as acting general counsel and corporate secretary for Revlon ahead of the cosmetic products company’s eventual bankruptcy.
Accordion and Tehrani-Littrell didn’t respond to requests for comment. Two private equity buyers acquired Accordian last year for an undisclosed sum.
Tehrani-Littrell’s move to Accordion comes after another former Revlon general counsel, Cari Robinson, started a new consultancy last month called Black Dog Advisory LLC.
Robinson, hired by Revlon in 2019 from IBM, didn’t respond to a comment request about Black Dog, which handles organizational transformation, cybersecurity, compliance, regulatory, and risk and governance issues. Her resignation last year led Tehrani-Littrell to take over Revlon’s legal group.
Tehrani-Littrell joined Revlon in late 2021 after more than 16 years in-house at Japanese financial services giant Nomura Holdings Inc., where she was head of corporate legal for the Americas.
By June of 2022, Revlon was insolvent and had ushered in yet another legal chief, Andrew Kidd, as the debtor sought to find a path through Chapter 11.
Ronald Perelman, Revlon’s embattled owner, reached an agreement in December with Revlon’s creditors to sell the company if a buyer is found.
Revlon’s bankruptcy, now nearing an end, has generated big bills for a number of large law firms. Brown Rudnick is advising an official committee of unsecured creditors, while Ropes & Gray is representing another group of Revlon creditors.
Paul, Weiss, Rifkind, Wharton & Garrison, lead restructuring counsel to Revlon, has billed the company for $37.4 million in legal fees and expenses since last summer, according to court filings. Revlon also paid $2.7 million to MoloLamken and almost $1.6 million to Freshfields Bruckhaus Deringer during that time.
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