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After revealing its “Coty.Curated” turnaround plan earlier this year, the beauty conglomerate is undergoing a leadership shakeup in an effort to “streamline” decision-making, according to a July 2 announcement.
Coty is flattening out its leadership structure in its prestige division, stating this change will enable it to “move faster.” Executive chairman and interim CEO Markus Strobel will now take direct control over all the prestige commercial operations.
Three executives will be departing within the next three months, including Caroline Andreotti, the chief commercial officer of the prestige division; Dr. Shimei Fan, the chief scientific and sustainability officer and Priya Srinivasan, the chief people and purpose officer.
It’s also integrating its prestige R&D, sustainability and supply chain management into one department that will be overseen by Coty’s chief supply chain officer Graeme Carter. Séverine Charbon will assume the role of chief people and purpose officer in September 2026.
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A research note by Raymond James analyst Olivia Tong predicts “another year of transition” for the beauty company after fragrance category deceleration and market share losses that have led to organic sales declines over the last six quarters.
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