Successor to Be Appointed in Near Future
NEW YORK--(BUSINESS WIRE)--Jun. 13, 2017--
Coty Inc. (NYSE:COTY) today announced that Ralph Macchio, Chief
Scientific Officer and Senior Vice President of Global Research &
Development, will retire from Coty after a distinguished 25 years with
the company. The retirement has been in the pipeline for a couple of
years, but Ralph agreed to postpone it until after the merger and
integration with P&G Beauty Business was well advanced.
Camillo Pane, Coty’s CEO, said, “Ralph has been an amazing R&D leader in
the beauty industry and retires after a truly distinguished career. He
has developed many iconic products over the years, pioneered radical and
breakthrough technologies and authored numerous patents. These include
our highly successful Sally Hansen Miracle Gel, one of the biggest nail
successes in beauty, having won 34 awards, and Rimmel Lash Accelerator
Mascara, proven to help grow lashes, to name just two. My many thanks,
and those of our Board and Executive Committee members, and all his
colleagues at Coty go to Ralph for his leadership, commitment, drive and
passion for our business, and for the expertise he has brought. We wish
him a great retirement.”
A successor will be announced in the near future.
Ralph will leave Coty on June 30, 2017. During the interim period, the
R&D team will report to the CEO.
About Coty Inc.
Coty is one of the world’s largest beauty companies with approximately
$9 billion in revenue, with a purpose to celebrate and liberate the
diversity of consumers’ beauty. Its strong entrepreneurial heritage has
created an iconic portfolio of leading beauty brands. Coty is 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 – Coty Consumer Beauty, which is focused on color
cosmetics, retail hair coloring and styling products, body care and mass
fragrances sold primarily in the mass retail channels with brands such
as COVERGIRL, Max Factor and Rimmel; Coty Luxury, which is focused on
prestige fragrances and skincare with brands such as Calvin Klein, Marc
Jacobs, Hugo Boss, Gucci and philosophy; and Coty 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 approximately 20,000 colleagues
globally and its products are sold in over 130 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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Source: Coty Inc.
Coty
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