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Coty chairman appointed new CEO

By Huw Hughes

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Coty has announced that its chairman Peter Harf has been appointed as new CEO.

Harf, who is also the founder and managing partner of investment firm JAB Investors, will replace Pierre Laubies, who stepped down in May after less than two years in the role.

Harf has been credited with building the “modern-day Coty” after spending over 20 years with direct executive responsibility for the business.

“I’ve known Coty for a long time and there is a lot of potential within this company. I’m delighted to return to an active leadership role,” said Harf in a statement. “We are all energized by the task ahead – to lead Coty to the best it can be. Further, in KKR, we have a world-renowned investor that will work alongside us in transforming Coty.”

Board member Johannes Huth added: “We are excited about our future collaboration with Peter Harf and the team at Coty. The company has tremendous potential and this transaction will position the business to deliver long-term value creation. Coty and Wella alike are going to benefit significantly from the transformation journey ahead.”

Photo credit: Kylie Skin website

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