Coty Announces New CEO and Board Changes
November 12 2018 - 8:00AM
Business Wire
Coty Inc. (NYSE: COTY) today announced the resignation of
Camillo Pane, current CEO of Coty, for family reasons and the
appointment of Pierre Laubies as the new CEO of Coty, effective
immediately.
Bart Becht, Chairman of Coty, said: “We are very grateful for
Camillo’s many contributions to Coty during his time as CEO. His
leadership was critically important during Coty’s integration of
the P&G Specialty Beauty Business. Following the transaction,
Camillo greatly accelerated the growth of the Luxury and
Professional businesses, built a much stronger management team and
delivered on the synergy commitments associated with the
transaction. We are all very thankful for Camillo’s valued service,
his exemplary leadership and his passion for beauty and Coty’s
brands and people over the last years.”
This also announces the appointment of Pierre Laubies as a
director of Coty, effective immediately. Pierre has a wealth of
operational and financial experience in the consumer packaged goods
industry gained from his time at both Mars and Jacobs Douwe Egberts
(JDE). Until recently, Pierre was CEO of JDE, a leading player in
the global coffee category. At JDE, he successfully integrated the
ex Mondelez coffee business fully realizing the associated
synergies and reducing the debt burden of the JDE company.
The Board today is commencing a renewal process to bring new
perspectives to the company and strengthen independent director
representation. Specifically, the Board has agreed and started a
process to add two new independent Board members with deep
commercial and financial experience. In addition, Peter Harf is
taking over the Chairman role from Bart Becht effective immediately
and the Board has decided to appoint Erhard Schoewel as its Lead
Independent Director.
About Coty
Coty is one of the world’s largest beauty companies with over $9
billion in revenue, an iconic portfolio of brands and a purpose to
celebrate and liberate the diversity of consumers’ beauty. We
believe the beauty of humanity lies in the individuality of its
people; beauty is at its best when authentic; and beauty should
make you feel happy, never sad. As the global leader in fragrance,
a strong number two in professional salon hair color & styling,
and number three in color cosmetics, Coty operates three divisions:
Consumer Beauty, which is focused on mass color cosmetics, mass
retail hair coloring and styling products, body care and mass
fragrances with brands such as COVERGIRL, Max Factor, Bourjois and
Rimmel; Luxury, which is focused on prestige fragrances and
skincare with brands such as Calvin Klein, Marc Jacobs, Hugo Boss,
Gucci and philosophy; and Professional Beauty, which is focused on
servicing salon owners and professionals in both hair and nail,
with brands such as Wella Professionals, Sebastian Professional,
OPI and ghd. Coty has 20,000 colleagues globally and its products
are sold in over 150 countries. Coty and its brands are committed
to a range of social causes as well as seeking to minimize its
impact on the environment.
For additional information about Coty Inc., please visit
www.coty.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20181112005367/en/
Coty Inc.Investor RelationsChristina Frank+1
212-389-7300christina_frank@cotyinc.comorMedia
RelationsJennifer Friedman+1 917-754-
8399Jennifer_Friedman@cotyinc.comorEsra Erkal-Paler+44 7771 740
311Esra_Erkal-Paler@cotyinc.com
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