Coty Inc. Announces That Bart Becht Will Remain as Chief Executive Officer
Provides Leadership Continuity helping Coty to Further Progress
Behind its New Strategy
NEW YORK--(BUSINESS WIRE)--Jun. 23, 2015--
Coty Inc. (NYSE:COTY) announced today that Bart Becht will remain as
Interim Chief Executive Officer of Coty. Mr. Becht will also continue in
his role as Chairman of Coty. In connection with this change, Elio Leoni
Sceti, who was planned to assume the role of CEO in July, has
reconsidered and decided not to join Coty.
Peter Harf, Director and Chairman of the Remuneration and Nomination
Committee of Coty commented, “After further discussion, the Coty Board
of Directors determined that leadership continuity is critical in
ensuring the continued success of Coty’s strategy implementation. We
certainly understand Elio’s decision not to join Coty as planned, thank
him for his professionalism throughout this process and we wish him all
the best in his future endeavors.”
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.6
billion for the fiscal year ended June 30, 2014. Founded in Paris in
1904, Coty is a pure play beauty company with a portfolio of well-known
fragrances, color cosmetics and skin & body care products sold in over
130 countries and territories. Coty's product offerings include such
power brands as adidas, Calvin Klein, Chloé, DAVIDOFF,
Marc Jacobs, OPI, philosophy, Playboy, Rimmel
and Sally Hansen.
For additional information about Coty Inc., please visit www.coty.com.