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Struggling Coty Names P&G Veteran as Interim CEO in Leadership Shake Up
Markus Strobel takes helm amid steep share decline and strategic review; Coty expects to reduce net leverage to around 3x by year-end, following $750 million Wella stake sale.
- Coty on Monday named Markus Strobel as chairman and interim chief executive, effective January 1, 2026, succeeding Sue Nabi and replacing Peter Harf, who retires after more than 30 years.
- Following a board-led strategic review launched in September, Coty Inc. faces pressure on its mass-market business as shares fell more than 50% this year, with brand sales such as CoverGirl and Rimmel under consideration.
- He spent over three decades at Procter & Gamble, most recently overseeing global skin and personal care as Coty completed the sale of its remaining 25.8% stake in Wella to KKR for $750 million on Friday.
- The board said it has full support for Strobel at a "pivotal moment," with a search for a permanent CEO underway, while Paris-listed Coty shares were down about 5% on Monday.
- Combined with strong free cash flow of over $350 million , Coty expects to lower net leverage to around 3x by the end of 2025 while preparing for Gucci license ending in 2028.
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13 Articles
13 Articles
Movement includes Coty in a long list of global consumer companies that have made changes in leadership as they navigate by a more diverse cost standard
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Total News Sources13
Leaning Left1Leaning Right0Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 20%
C 80%
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