NEW YORK--(BUSINESS WIRE)--Nov. 12, 2018--
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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Source: Coty Inc.
Coty Inc.
Investor Relations
Christina Frank
+1
212-389-7300
christina_frank@cotyinc.com
or
Media
Relations
Jennifer Friedman
+1 917-754- 8399
Jennifer_Friedman@cotyinc.com
or
Esra
Erkal-Paler
+44 7771 740 311
Esra_Erkal-Paler@cotyinc.com