Yahoo Finance·2025-12-22 11:28Core Insights - Procter & Gamble veteran Markus Strobel will join Coty as interim CEO and executive board chair on January 1, replacing Sue Nabi, who served for about five years [1][2]. Group 1: Leadership Changes - Strobel has over three decades of experience at P&G, managing a multibillion-dollar portfolio of more than 12 brands, including luxury fragrance labels [2]. - Strobel aims to leverage Coty's strong foundations to accelerate growth and enhance its position in both prestige and mass beauty sectors [2]. Group 2: Company Performance and Strategy - Under Sue Nabi's leadership, Coty focused on a turnaround strategy that included profit boosting, margin expansion, and cost-cutting measures, which involved laying off 700 employees [3]. - Coty has successfully reduced its financial net leverage to approximately 3x during Nabi's tenure [3]. Group 3: Recent Developments - Coty has sold its remaining 25%-plus interest in Wella, completing a long-term plan to divest from the hair care brand by the end of the year [4]. - The sale to investment firm KKR included an upfront cash consideration of $750 million, along with Coty receiving 45% of any future sale proceeds or IPO from Wella [5].