Coty Inc. has announced the resignation of Camillo Pane, current CEO of Coty, for family reasons. Pierre Laubies has been appointed 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.”
 
In light of Pane’s resignation, Pierre Laubies has been appointed as a director of Coty, effective immediately. Coty says Laubies “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, he 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.”
 
More changes
Coty also announced that the Board 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.



PHOTO: Camillo Pane