The beauty brand, which is currently based in New York in the Empire State building, is reorganising its corporate structure and relocating to London following the completion of its $12.bn deal to purchase a sizable chunk of Procter & Gamble’s beauty business. They will continue to operate out of its offices in New York, Paris and Geneva. “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,” stated Bart Becht, Coty’s Chairman and Interim Chief Executive Officer. “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 most dramatic move will come in the second half of 2016, with the close of its merger with certain P&G beauty businesses. They are acquiring more businesses – on Monday, the company said it had entered into a definitive agreement to purchase the personal-care and beauty businesses from Hypermarcas S.A. in Brazil for about $1 billion.
Following the P&G deal, the company will be organised into three divisions: Coty Luxury, which will focus on fragrance and skin care; Coty Consumer Beauty, colour cosmetics, retail hair colouring, styling products and body care; and Coty Professional Beauty, servicing salon owners and professionals in both hair and nail care. Each of these divisions will be led by a President: Edgar Huber will be President of Coty Luxury, based in Paris; P&G’s Esi Eggleseton Bracey will be President of Coty Consumer Beauty, based in New York; and P&G’s Sylvie Moreau will be President of Coty Professional Beauty, based in Geneva.
Under the new structure, Coty will also create a department called Growth and Digital, led by Camillo Pane, who was most recently Senior Vice President, Global Category Officer of Consumer Health at Reckitt Benckiser. He will remain in London. Coty’s leadership team will also include Bart Becht in his current role as Chairman and interim CEO, currently based in London; Patrice de Talhouet, in his current role as Chief Financial Officer, who will move to London; Mario Reis as Chief Global Supply Officer, who will remain in Geneva; Jules Kaufman, Chief Legal Officer and Secretary, who will move to London; Ralph Macchio, Chief Science Officer, who will remain in Morris Plains, N.J., and Sebastien Froidefond, Chief Human Resources Officer, who will also move to London.
Jean Mortier will retire from Coty, and be succeeded effectively immediately by Huber as President of Global Markets. Mortier plans to stay with Coty through June as a special adviser to the CEO.