THE WHAT? Coty has announced several executive and Board appointments. By this summer, Pierre Denis will succeed Pierre Laubies as CEO of the company and CFO, Pierre-Andre Terisse will add the role of COO to his remit.
THE DETAILS Additionally, the Coty Board of Directors has elected Isabelle Parize and Justine Tan non-executive directors, effective immediately.
Denis is currently CEO of Jimmy Choo Group, a position he has held since July, 2012 when he was recruited by JAB, the footwear brand’s then-owner.
“In less than 18 months, Pierre Laubies and his team have implemented a number of strategic initiatives to position the company for sustainable growth and long-term success,” said Peter Harf, Chairman of Coty. “On behalf of the Board, I would like to thank Pierre for his decisive contributions to Coty.”
THE WHY? The appointments are designed to help accelerate growth of the business. “Pierre Denis brings a wealth of cosmetics and luxury experience in developed and developing markets, including in Asia, and I have admired his work for many years,” added Mr. Harf. “Pierre will work closely with Pierre-André Térisse, who intimately knows the company’s operations and finances, to ensure that Coty is well-positioned to capture myriad growth opportunities and accelerate top line performance.”