Coty Names New CEO

The Covergirl Times Square flagship store in New York
The Covergirl Times Square flagship store in New York

Pierre Denis, current Jimmy Choo CEO, is succeeding Pierre Laubies to become CEO of beauty brand Coty.

Coty CFO Pierre-André Térisse, meanwhile, is becoming COO, a new position for the company. He will also retain CFO role and responsibilities.

Coty, which counts such brands as Covergirl, Max Factor, Adidas and Clairol under its umbrella, is currently exploring the sale of its professional beauty division.

The executive changes will go into effect by this summer once the strategic review is complete.

Denis has served on the Coty board of directors since September 2019. His Jimmy Choo tenure began in 2012, during which he helped establish the brand’s presence in Asia as well as its digital capabilities.

He’s also held leadership roles with LVMH and Christian Dior.

The exiting Laubies joined Coty in November 2018 and was responsible for leading the company’s transformation and completing its integration of the P&G Beauty Business from its 2015 transaction. This included stepping up the execution of its consumer brands, streamlining its organization and supply chain, and improving free cash-flow.

Laubies also initiated a strategic review of Coty’s professional and hair businesses and, with the partnership with Kylie Beauty, commenced the company’s expansion into key growth segments.

To support Denis’ growth agenda, Térisse has been promoted to the new COO position, where he’ll be tasked with securing effective alignment and integration of all support functions.

In other changes, Isabelle Parize and Justine Tan have been appointed non-executive directors by the Coty board of directors, effective Feb. 27.

Parize, currently interim CEO of Delsey, brings global cosmetics leadership experience to Coty, having previously served as CEO of perfume and cosmetics retailers Douglas Holding and Nocibé, as well as president of Quest International’s fragrance division. She also serves as a non-executive director of Pandora and Air France-KLM Group.

Tan is a partner at JAB, Coty’s controlling shareholder. She has over 20 years of experience in investing, banking and operations, having previously been a founding member of Temasek’s U.S. operations, and an investment banker at Goldman, Sachs & Co.

Coty is No. 60 on CGT’s Top 100 Consumer Goods Companies of 2019.

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