Coty announces executive leadership shifts
Coty’s executive leadership division is undergoing changes, including appointing a new finance chief, a new COO for its consumer beauty division and a new global supply chain leader.
The company, which is the parent to such brands as CoverGirl, Rimmel, OPI and Wella Professionals, among others, announced that it appointed Pierre-André Terisse as CFO and as a member of its executive committee.
Terisse, who will be based in London, was previously group CFO of Danone for seven years and general manager of Danone’s Africa division for three years.
Pierre Laubies, Coty’s current CEO, will assume leadership for the formulation and implementation of the strategic vision for the consumer beauty division. He will be supported by Gianni Pieraccioni, who will be joining the company as COO of consumer beauty and will be a member of the executive committee as well.
Pieraccioni previously served as president of Revlon’s consumer division and COO of Revlon until 2017.
Luc Volatier has been appointed as chief global supply officer and a member of the executive committee. He previously served as the executive vice president of operations at Jacobs Douwe Egberts.
“Today’s organizational changes are important steps in supporting our ongoing transformation, as we complete the P&G specialty beauty business integration and design our strategic road map for future growth,” Laubies said. “Pierre-André Terisse joins Coty as our new CFO, and I look forward to working with him as we focus on deleveraging and improving our financial performance. Since my arrival in mid-November, I have spent extensive time with the divisional, regional and functional teams to assess Coty’s strengths and opportunities. From my preliminary assessment, consumer beauty and supply chain are areas that require an immediate step change in capabilities, the latter being necessary to leverage further the significant footprint optimization implemented over the last two years. Consequently, I will assume personal responsibility for the consumer beauty division so that I can oversee the continuing transformation of this business. Gianni Pieraccioni joins Coty as COO, consumer beauty, and will focus on commercial operations. Secondly, I am delighted to welcome Luc Volatier as Coty’s new chief global supply officer. I look forward to providing more details on my full assessment and future vision for Coty during our upcoming earnings calls.”
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