Coty Announces New Executive Team, Plans To Relocate Key Offices To London

(RTTNews) - Coty Inc. (COTY) Tuesday announced a new organizational structure and the future leadership team in preparation of its merger with Procter & Gamble Company's (PG) Specialty Beauty Business. Further Coty said it plans to relocate its executive management offices to London to have proximity to its key strategic markets. However, the company will continue to be incorporated in Delaware and traded on the New York Stock Exchange.

After the merger, Coty's business will be organized into three divisions such as Coty Luxury Division, focused on fragrances and skin care, Coty Consumer Beauty Division, focused on color cosmetics, retail hair coloring and styling products and body care and Coty Professional Beauty Division, focused on servicing salon owners and professionals in both hair and nail care.

Each division will have President to lead. The divisions will be overseen by an executive team consisting of the three Presidents, the Functional Heads and the Chief Executive Officer.

Coty said it will launch Growth and Digital to accelerate growth.

Bart Becht, chairman and interim chief executive officer and Patrice de Talhouët, chief financial officer will continue in their positions.

Camillo Pane, chief growth and digital officer will be based in London following the close of the transaction.

Edgar Huber, President Coty Luxury will oversee Coty's Fragrances and Skin Care division, while Esi Eggleston Bracey, president of Coty Consumer Beauty will oversee Coty's Color Cosmetics, Hair Coloring and Styling, and Body Care division.

Sylvie Moreau, President, Coty Professional Beauty will be responsible for overseeing Coty's salon business in hair and nail care.

Mario Reis, Chief Global Supply Officer will be responsible for running Coty's fully integrated, end-to-end supply chain, covering procurement, manufacturing and warehousing & distribution, facilitating the acceleration of profitable growth as well as driving cost leadership at Coty.

Jules Kaufman, Chief Legal Officer and Secretary will continue to oversee Coty's legal affairs worldwide.

Ralph Macchio, Chief Scientific Officer will be responsible for all Scientific and Global Regulatory & Consumer Affairs at Coty.

Sébastien Froidefond, Chief Human Resources Officer will manage all corporate human resources activities.

Jean Mortier will retire from Coty and will be succeeded by Edgar Huber as President Global Markets. The merger with P&G's Specialty Beauty Business is expected to close in the second half of calendar year 2016.