Pierre-André Terisse Named Chief Financial Officer
Luc Volatier Named Chief Global Supply Officer
Gianni Pieraccioni Named Chief Operating Officer, Consumer Beauty
NEW YORK--(BUSINESS WIRE)--Jan. 11, 2019--
Coty Inc. (NYSE:COTY) today announced a series of executive leadership
changes to support its ongoing transformation and future growth.
First, Pierre-André Terisse has been appointed Chief Financial Officer
and a member of the Executive Committee, effective February 1, 2019.
Pierre-André has nearly 30 years of public company finance experience,
including in business turnarounds, treasury and finance integration. He
spent the majority of his career at Danone, most notably as Group CFO of
Danone for seven years and was General Manager of Danone’s Africa
Division for three years, where he designed and implemented the
division’s strategy, operational foundations and innovation pipeline.
Pierre-André will be based in London.
Second, Pierre Laubies, Coty’s CEO, will assume leadership for the
formulation and implementation of the strategic vision for the Consumer
Beauty division. He will be supported by Gianni Pieraccioni who joins
Coty as Chief Operating Officer (COO), Consumer Beauty, and as a member
of the Executive Committee, effective January 14, 2019. Gianni will lead
the Consumer Beauty in-market organization, e-commerce and supply chain,
focusing on commercial operations and will be based in New York. He
served as President, Revlon Consumer Division and served as COO of
Revlon Inc. until 2017, and brings more than 30 years of international
business experience with consumer goods companies including J&J, PepsiCo
and P&G. In connection with the continuing transformation of Consumer
Beauty, Laurent Kleitman has decided to pursue other opportunities and
will be leaving Coty. During the past 20 months at Coty, Laurent has
built a strong leadership team and commercial organization that will
help the continuation of the business transformation.
Third, Luc Volatier has been appointed Chief Global Supply Officer and a
member of the Executive Committee, effective January 14, 2019, and will
be based in Geneva. Luc joins Coty from Jacobs Douwe Egberts (JDE) where
he served for seven years as EVP Operations with responsibility for
Supply and R&D. He successfully led the transformation of the JDE
manufacturing and logistical footprint following the spin-off from Sara
Lee and the subsequent merger with the coffee division of Mondelez. Luc
led the cost and cash program to fuel JDE growth, backed by a network of
top-tier supply partners. Luc has nearly 30 years of experience in
procurement, R&D and supply chain optimization. He will be replacing
Mario Reis, who is departing his position as Chief Global Supply Officer.
Finally, Esra Erkal-Paler, Chief Corporate Affairs Officer, has decided
to leave Coty to pursue other opportunities. As a result, the Corporate
Affairs function will be integrated into Coty’s three divisions and
functions.
Pierre Laubies, Coty’s CEO, said, “Today’s organizational changes are
important steps in supporting our ongoing transformation, as we complete
the P&G Specialty Beauty Business integration and design our strategic
roadmap for future growth. Pierre-André Terisse joins Coty as our new
CFO and I look forward to working with him as we focus on deleveraging
and improving our financial performance. Since my arrival in
mid-November, I have spent extensive time with the divisional, regional
and functional teams to assess Coty’s strengths and opportunities. From
my preliminary assessment, Consumer Beauty and Supply Chain are areas
that require an immediate step-change in capabilities, the latter being
necessary to leverage further the significant footprint optimization
implemented over the last two years. Consequently, I will assume
personal responsibility for the Consumer Beauty division so that I can
oversee the continuing transformation of this business. Gianni
Pieraccioni joins Coty as COO, Consumer Beauty, and will focus on
commercial operations. Secondly, I am delighted to welcome Luc Volatier
as Coty’s new Chief Global Supply Officer. I look forward to providing
more details on my full assessment and future vision for Coty during our
upcoming earnings calls.
Pierre-André, Luc and Gianni will be great additions to the Executive
Committee as we embark on the next chapter of Coty’s transformation. I’d
like to thank Mario, Laurent and Esra for their valuable contributions
to Coty. We wish them each the best in their future endeavours.”
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190111005169/en/
Source: Coty Inc.
Media Relations
Jennifer Friedman
+1 917-754- 8399
Jennifer_Friedman@cotyinc.com
Investor Relations
Christina Frank
+1 212-389-6802
christina_frank@cotyinc.com
Olga Levinzon
+1 212-389-7733
Olga_Levinzon@cotyinc.com