Coty makes executive, board changes

Coty is making changes to its board with new appointments designed to help accelerate the growth of its business.

Part of the changes includes announcing that Pierre Denis will be succeeding Pierre Laubies as chief executive officer, and Pierre-André Térisee, chief financial officer, will be taking over as chief operating officer while still retaining his CFO role and responsibilities.

Since joining Coty in 2018, Laubies helped lead the integration of the P&G beauty business, which included stepping up consumer brands execution, streamlining organization and supply chain, improving free-cash-flow, and the partnership with Kylie Beauty, the company said.

"In less than 18 months, Pierre Laubies and his team have implemented a number of strategic initiatives to position the company for sustainable growth and long-term success,” Peter Harf, chairman of Coty said. “On behalf of the Board, I would like to thank Pierre for his decisive contributions to Coty.”

Denis, the current CEO of Jimmy Choo Group Limited, will assume responsibility for the marketing, sales, human resources, R&D and legal organizations, the company said.

“Pierre Denis brings a wealth of cosmetics and luxury experience in developed and developing markets, including in Asia, and I have admired his work for many years,” Harf said. “Pierre will work closely with Pierre-André Térisse, who intimately knows the company’s operations and finances, to ensure that Coty is well-positioned to capture myriad growth opportunities and accelerate top line performance.”

In addition, the board of directors elected Isabelle Parize and Justine Tan as non-executive directors, effective Feb 27.