Following a “disappointing” results for the first quarter of the fiscal year 2019, Coty has announced the resignation of Camillo Pane, current CEO of the company, for family reasons and the appointment of Pierre Laubies to succeed him. Mr Laubies appointment is effective immediately.
“We are very grateful for Camillo’s many contributions to Coty during his time as CEO. His leadership was critically important during Coty’s integration of the P&G Specialty Beauty Business. Following the transaction, Camillo greatly accelerated the growth of the Luxury and Professional businesses, built a much stronger management team and delivered on the synergy commitments associated with the transaction,” said Bart Becht, Chairman of Coty.
Until recently, Pierre Laubies was CEO of Jacobs Douwe Egberts (JDE), a leading player in the global coffee category. At JDE, he successfully integrated the ex Mondelez coffee business fully realizing the associated synergies and reducing the debt burden of the JDE company.
In addition, Coty also announce that Peter Harf is taking over the Chairman role from Bart Becht effective immediately.