KKR has named Annie Young-Scrivner as the new chief executive officer of Wella Company.
As CEO, Ms. Young-Scrivner will report to Wella’s Board of Directors. 

The appointment will become effective upon close of the transaction in which KKR is acquiring 60% of Wella from Coty Inc. The transaction is expected to close by the end of the year.  

Until then, Sylvie Moreau will remain in her role as the current president of Coty’s Professional and Retail Hair businesses.

Young-Scrivner joins Wella from GODIVA Chocolatier, where she served as CEO for the last three years.  Prior, she served in a variety of senior executive roles at Starbucks Corporation since 2009. Young-Scrivner currently serves on the Board of Directors of Tiffany & Co., and YUM! Brands and previously served on the Board of Macy’s Inc.

Tim Franks, partner at KKR and Head of Consumer & Retail in its European Private Equity business, says, “We are thrilled that Annie will bring her tremendous passion for the consumer sector, her commitment to diverse and inclusive organizations, and her proven track record of building the value of consumer brands and businesses to the newly formed Wella Company."

Wella's iconic brands include Wella Professionals, Clairol, OPI, Nioxin, and ghd. 

Young-Scrivner comments, “I am honored to join Wella at such a pivotal time in the brand’s history as it celebrates 140 years of partnering with beauty professionals and salon owners. I’ve long admired Wella’s iconic brands and breakthrough innovations, and I am looking forward to engaging with the team as we work to grow the portfolio of brands and increase the company’s share of the $90 billion Hair and Nail beauty category.”

Wella To Operate as a Standalone Company

After the transaction closes, the Wella Company will operate as a separate company with its own management team and operational structures. It is expected to have an estimated 6,000 employees, serving over 250,000 hair and nail salons in over 100 countries through its retail brands.

Wella will be comprised of the assets of Coty’s Professional and Retail Hair businesses, including the Wella Professional, Clairol, OPI, Nioxin and ghd brands, which are valued at $4.3 billion on a cash- and debt-free basis under the terms of the transaction.

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