Coty announced new organizational structure; will become effective subject to completion of Coty’s merger with The Procter & Gamble Company’s (PG) businesses
Coty's business will be organized into three divisions: Coty Luxury Division, Coty Consumer Beauty Division, Coty Professional Beauty Division. Coty will also be launching a new department, called Growth and Digital, which will be focused on accelerating growth.
Leadership: Bart Becht, Chairman and Interim Chief Executive Officer - Before joining Coty in 2011 as chairman, Mr. Becht served as chief executive officer of Reckitt Benckiser (RBGLY) from 1995 to 2011. Patrice de Talhouët, Chief Financial Officer -- Mr. de Talhouët will continue to oversee the finance organization. In addition, he will be responsible for all M&A activities as well as information systems and real estate. Prior to joining Coty, he spent seven years at Mars, Inc. in various executive finance positions and 12 years at Alcatel-Lucent (ALU). Ralph Macchio, Chief Scientific Officer. Jean Mortier will retire from Coty and will be succeeded, effective immediately, by Edgar Huber as President Global Markets. Jean has agreed to stay with Coty through June 2016 as a Special Advisor to the CEO.
Leadership: Bart Becht, Chairman and Interim Chief Executive Officer - Before joining Coty in 2011 as chairman, Mr. Becht served as chief executive officer of Reckitt Benckiser (RBGLY) from 1995 to 2011. Patrice de Talhouët, Chief Financial Officer -- Mr. de Talhouët will continue to oversee the finance organization. In addition, he will be responsible for all M&A activities as well as information systems and real estate. Prior to joining Coty, he spent seven years at Mars, Inc. in various executive finance positions and 12 years at Alcatel-Lucent (ALU). Ralph Macchio, Chief Scientific Officer. Jean Mortier will retire from Coty and will be succeeded, effective immediately, by Edgar Huber as President Global Markets. Jean has agreed to stay with Coty through June 2016 as a Special Advisor to the CEO.
As previously disclosed, the merger with P&G's Specialty Beauty Business is expected to close in the second half of calendar year 2016, subject to regulatory clearances, works council consultations, and other customary conditions.