THE WHAT? Coty has announced the appointment of Sue Y Nabi as its new CEO, effective 1st September.
THE DETAILS Having previously acted as Worldwide President of both L’Oréal and Lancôme during her 20-year tenure at L’Oréal, Nabi is also the Founder and CEO of new-age luxury skincare line, Orveda.
Nabi was named as the youngest President of L’Oréal, after championing the diversity of beauty and beauty marketing and helping boost the company’s make-up brands.
Speaking about her appointment with Coty, Nabi said, “Peter and Coty’s leadership have laid the groundwork to revitalize an iconic beauty business. I’ve been following their progress avidly and am inspired and energized by the opportunity to proudly lead the global Coty team into the future as we build the new, more modern Coty.”
Peter Harf will be promoted to Executive Chairman and will be working closely with Nabi to lead Coty’s transformation, according to a press release.
THE WHY? Nabi was said to be chosen for the role due to her famous trailblazing experience within the beauty industry.
Harf said, “Sue is renowned as a visionary and ongoing game-changer whose outstanding creativity is celebrated in the beauty industry. I am proud that she now wants to bring her unique sense of inspiration to Coty.”