Coty Inc. this week announced a new organizational structure made up of three divisions and the future leadership team for the company.
The new structure and management will become effective subject to completion of Coty’s merger with The Procter & Gamble Company’s fine fragrance, color cosmetics, salon professional and hair color and styling businesses.
Bart Becht, Chairman and Interim CEO of Coty commented:
“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. 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 says that new organizational structure will be category focused, putting the consumer first, by specifically targeting how and where they shop and what and why they purchase. Each Division will have full end-to-end responsibility to optimize the consumers’ beauty experience in their relevant categories and channels in this new organizational design and translate this into profitable growth.
Post-merger, Coty’s business will be organized into three divisions:
Coty Luxury Division, focused on fragrances and skin care; Coty Consumer Beauty Division, focused on color cosmetics, retail hair coloring and styling products and body care; Coty Professional Beauty Division, focused on servicing salon owners and professionals in both hair and nail care.
Coty will also be launching a new department, called Growth and Digital, which will be focused on accelerating growth. It will regularly review the company’s portfolio strategy and focus on working with each of the three divisions to improve its capabilities in innovation, sales and traditional and digital marketing.
Each of the Luxury, Consumer Beauty, and Professional Beauty divisions will be led by a President, who will be supported in the areas of supply chain, finance, human resources and information services.
The divisions will be overseen by an executive team consisting of the three Presidents, the Functional Heads and the Chief Executive Officer. The executive team will provide strategic direction, pursue M&A opportunities, build out corporate capabilities and address public company obligations.
As part of the new organizational structure, Coty will relocate its executive management offices to London, including, but not limited to, the office of the Chairman and CEO, Finance, Human Resources, Legal and Growth and Digital. The company will continue to be incorporated in Delaware and traded on the New York Stock Exchange.
The highly experienced new Coty leadership team combines executives from Coty, P&G Specialty Beauty and other leading companies. Unless otherwise noted, all these positions will be based in London.
Bart Becht, Chairman and Interim Chief Executive Officer– previously with Reckitt Benckiser from 1995-2011, Becht will continue to be responsible for making Coty into a global leader and enhancing shareholder value.
Patrice de Talhouet, Chief Financial Officer – Prior to joining Coty, de Talhouet spent seven years at Mars, Inc. and 12 years at Alcatel -Lucent.
Camillo Pane, Chief Growth & Digital Officer- will advise on Coty’s portfolio strategy and be responsible for the development of innovation, marketing and sales capabilities across all divisions, as well as directing Coty’s digital media and e-commerce activities.
Edgar Huber, President Coty Luxury – will oversee Coty’s Fragrances and Skin Care division. Huber spent 15 years at L’Oréal, working on brands such as Ralph Lauren Fragrances, Viktor and Rolf, Yves Saint Laurent Beauty and Giorgio Armani Cosmetics. Most recently he was President and Chief Executive Officer of Lands’ End. He will be based in Paris.
Esi Eggleston Bracey, President, Coty Consumer Beauty- will oversee Coty’s Color Cosmetics, Hair Coloring and Styling, and Body Care division. She is currently EVP, Global Color Cosmetics, P&G, where she leads the COVERGIRL and Max Factor businesses across more than 80 global markets. She will transition to New York.
Sylvie Moreau, President, Coty Professional Beauty- will be responsible for overseeing Coty’s salon business in hair and nail care. She is currently EVP of Wella, the Salon Division of P&G, and remains in Geneva.
Also: Mario Reis, Chief Global Supply Officer, based in Geneva; Jules Kaufman, Chief Legal Officer and Secretary, Ralph Macchio, Chief Scientific Officer, (based in Morris Plains, New Jersey) and Sebastien Froidefond, Chief Human Resources Officer.
Jean Mortier will retire from Coty and will be succeeded by Edgar Huber as President Global Markets, effective immediately, but has agreed to stay with Coty through June 2016 as a Special Advisor to the CEO.
The merger is expected to close in the second half of 2016.