Beauty giant Coty Inc. has announced CEO Camillo Pane’s resignation and the appointment of Pierre Laubies to the role. Pane will be stepping down for familial reasons.
“We are very grateful for Camillo’s many contributions to Coty during his time as CEO,” chairman of Coty, Bart Becht said. “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.”
Effective immediately, Pierre Laubies will follow in his stead as the new CEO of Coty. Previously, Laubies served as CEO of a leading beverage company Jacobs Douwe Egberts, where he gained financial and operational experience within the consumer industry.
Meanwhile, in hopes of new perspectives and a strengthened board of directors, the board has appointed Peter Harf to take over Bart Becht as chairman effective immediately with Erhard Schoewel assuming the lead independent director role.
Coty Inc. is a colossal force within the beauty industry, leading in fragrance, professional hair color and styling and color cosmetics. Its professional portfolio includes well-known brands such as Wella, Sebastian, Sassoon, Nioxin and OPI, to name a few. CoverGirl and Marc Jacobs are among its portfolio of well-known consumer brands.
For more information, visit coty.com.
Image courtesy of Coty, Inc.