Coty(US:COTY) Businesswire·2025-12-22 07:00Core Insights - Coty Inc. announced that Markus Strobel will become Executive Chairman of the Board and Interim Chief Executive Officer starting January 1, 2026 [1] - Strobel has a 33-year career at Procter & Gamble, where he led the Global Skin & Personal Care business and revitalized the SK-II brand [2] - Strobel aims to leverage Coty's strong foundations to accelerate growth and enhance its position in both prestige and mass beauty markets [4] Company Leadership Transition - Markus Strobel succeeds Peter Harf, who is retiring after over 30 years, and Sue Nabi, who is stepping down after five years as CEO [4] - Harf's leadership contributed to Coty's status as a global beauty leader, while Nabi launched several successful fragrances and reduced financial net leverage to approximately 3x [4] Strategic Direction - Strobel will lead Coty during a strategic review of the Consumer Beauty business, identifying opportunities for profitable growth and expansion [3] - The company is focused on reinforcing its leadership in the beauty sector and delivering sustainable value to shareholders and consumers [4] Company Overview - Coty, founded in Paris in 1904, is one of the largest beauty companies globally, with a diverse portfolio across fragrance, color cosmetics, and skin and body care [5] - The company operates in over 120 countries, empowering consumers to express their beauty visions while committing to environmental protection [5]