11.03.15
As might be expected, big changes are in the works at Coty, Inc. The beauty company has announced a new organizational structure and its future leadership team based on the completion of Coty’s merger with P&G. (In a $12.5 billion deal in July 2015, Coty purchased 43 of P&G’s beauty brands.)
Bart Becht, chairman and Interim CEO of Coty commented: “The new Coty will bring together a very experienced and diverse executive team, skilled at managing complex global consumer operations, and driving innovation, creativity and growth, all of which are a prerequisite for future success. This deeply experienced team combined with the new category-focused and consumer-centric structure, and our portfolio of world-class brands, are all expected to play key roles in making Coty a strong global leader and challenger in Beauty and driving profitable growth and shareholder value over time.”
Coty’s new organizational structure will be category focused, “putting the consumer first,” by specifically targeting how and where they shop and what and why they purchase. The three divisions are:
—Coty Luxury Division, focused on fragrances and skin care
—Coty Consumer Beauty Division, focused on color cosmetics, retail hair coloring and styling products and body care
—Coty Professional Beauty Division, focused on servicing salon owners and professionals in both hair and nail care
A new department, called Growth and Digital, will be focused on accelerating growth, working with the other divisions.
Each of the divisions will be led by a president, and overseen by an executive team.
As part of the new organizational structure, Coty plans to relocate its executive management offices to London, for closer proximity to the company’s key strategic markets around the world. The company will continue to be incorporated in Delaware and traded on the New York Stock Exchange.
The new international Coty leadership team:
—Bart Becht, chairman and interim chief executive officer will continue in his role.
—Patrice de Talhouët, chief financial officer will continue to oversee the finance organization..
—Camillo Pane, chief growth and digital officer, will advise on Coty’s portfolio strategy and be responsible for the development of Coty’s innovation, marketing and sales capabilities across all divisions, as well as directing Coty’s digital media and e-commerce activities.
—Edgar Huber, president Coty Luxury, will oversee Coty’s Fragrances and Skin Care division. Huber has more than 25 years of experience in building brands across the beauty and fashion industry, including 15 at L'Oréal, mostly in the Luxury Products Division.
—Esi Eggleston Bracey, president, Coty Consumer Beauty, will oversee Coty’s Color Cosmetics, Hair Coloring and Styling, and Body Care division. She is currently executive vice president, Global Color Cosmetics, P&G, where she leads the CoverGirl and Max Factor businesses across more than 80 global markets.
—Sylvie Moreau, president, Coty Professional Beauty, will be responsible for overseeing Coty’s salon business in hair and nail care. She is currently executive vice president of Wella, the Salon Division of P&G.
—Mario Reis, chief global supply officer, will be responsible for running Coty’s fully integrated, end-to-end supply chain, covering procurement, manufacturing and warehousing & distribution, facilitating the acceleration of profitable growth as well as driving cost leadership at Coty. Prior to joining Coty, Reis spent 16 years with Danone.
—Jules Kaufman, chief legal officer and secretary, will continue to oversee Coty’s legal affairs worldwide.
—Ralph Macchio, chief scientific officer, will be responsible for all Scientific and Global Regulatory & Consumer Affairs at Coty. He has been with Coty since 1992.
—Sébastien Froidefond, chief human resources officer, will manage all corporate human resources activities. Prior to joining Coty, he was at Sanofi.
—Jean Mortier will retire from Coty and will be succeeded, effective immediately, by Edgar Huber as president Global Markets. Mortier will stay on as an advisor to the CEO through June 2016.
The merger with P&G’s Specialty Beauty Business is expected to close in the second half of calendar year 2016.
Bart Becht, chairman and Interim CEO of Coty commented: “The new Coty will bring together a very experienced and diverse executive team, skilled at managing complex global consumer operations, and driving innovation, creativity and growth, all of which are a prerequisite for future success. This deeply experienced team combined with the new category-focused and consumer-centric structure, and our portfolio of world-class brands, are all expected to play key roles in making Coty a strong global leader and challenger in Beauty and driving profitable growth and shareholder value over time.”
Coty’s new organizational structure will be category focused, “putting the consumer first,” by specifically targeting how and where they shop and what and why they purchase. The three divisions are:
—Coty Luxury Division, focused on fragrances and skin care
—Coty Consumer Beauty Division, focused on color cosmetics, retail hair coloring and styling products and body care
—Coty Professional Beauty Division, focused on servicing salon owners and professionals in both hair and nail care
A new department, called Growth and Digital, will be focused on accelerating growth, working with the other divisions.
Each of the divisions will be led by a president, and overseen by an executive team.
As part of the new organizational structure, Coty plans to relocate its executive management offices to London, for closer proximity to the company’s key strategic markets around the world. The company will continue to be incorporated in Delaware and traded on the New York Stock Exchange.
The new international Coty leadership team:
—Bart Becht, chairman and interim chief executive officer will continue in his role.
—Patrice de Talhouët, chief financial officer will continue to oversee the finance organization..
—Camillo Pane, chief growth and digital officer, will advise on Coty’s portfolio strategy and be responsible for the development of Coty’s innovation, marketing and sales capabilities across all divisions, as well as directing Coty’s digital media and e-commerce activities.
—Edgar Huber, president Coty Luxury, will oversee Coty’s Fragrances and Skin Care division. Huber has more than 25 years of experience in building brands across the beauty and fashion industry, including 15 at L'Oréal, mostly in the Luxury Products Division.
—Esi Eggleston Bracey, president, Coty Consumer Beauty, will oversee Coty’s Color Cosmetics, Hair Coloring and Styling, and Body Care division. She is currently executive vice president, Global Color Cosmetics, P&G, where she leads the CoverGirl and Max Factor businesses across more than 80 global markets.
—Sylvie Moreau, president, Coty Professional Beauty, will be responsible for overseeing Coty’s salon business in hair and nail care. She is currently executive vice president of Wella, the Salon Division of P&G.
—Mario Reis, chief global supply officer, will be responsible for running Coty’s fully integrated, end-to-end supply chain, covering procurement, manufacturing and warehousing & distribution, facilitating the acceleration of profitable growth as well as driving cost leadership at Coty. Prior to joining Coty, Reis spent 16 years with Danone.
—Jules Kaufman, chief legal officer and secretary, will continue to oversee Coty’s legal affairs worldwide.
—Ralph Macchio, chief scientific officer, will be responsible for all Scientific and Global Regulatory & Consumer Affairs at Coty. He has been with Coty since 1992.
—Sébastien Froidefond, chief human resources officer, will manage all corporate human resources activities. Prior to joining Coty, he was at Sanofi.
—Jean Mortier will retire from Coty and will be succeeded, effective immediately, by Edgar Huber as president Global Markets. Mortier will stay on as an advisor to the CEO through June 2016.
The merger with P&G’s Specialty Beauty Business is expected to close in the second half of calendar year 2016.
