Coty CEO Bernd Beetz is retiring from the beauty company, effective Aug. 1, and will be succeeded by Michele Scannavini, who has been president of Coty Prestige for the past decade.
Two weeks after Avon rejected Coty’s bid to snap up the company in a deal valued at $10 billion, Coty is reaffirming its interest in Avon and is urging Avon shareholders to push for the offer.
Coty announced on Monday that it has submitted a nonbinding proposal to acquire Avon in a deal valued at about $10 billion; however, Avon has rejected the unsolicited bid.
Coty has announced that Bart Becht, former Reckitt Benckiser CEO, has joined its board as nonexecutive chairman.
Second-quarter net revenue increased to 2.34 billion pounds ($3.83 billion) for Reckitt Benckiser, the company announced in an earnings statement Monday.
Reckitt Benckiser on Thursday announced the retirement of Bart Becht as CEO, effective Sept. 1. Becht will be succeeded by Rakesh Kapoor, a 25-year RB veteran and current EVP global category development.