THE WHAT? Coty has named Simona Cattaneo as the new head of Kylie Cosmetics, according to a report published by the New York Post.
THE DETAILS Cattaneo, who was also named President, Luxury Brands in January, is stepping in after Christoph Honnefelder, who was named to the role in January, declined to join the company ‘for personal reasons’.
Coty has also announced that Chairman Peter Harf will assume the role of CEO, after Pierre Laubies stepped down on May 31 and his previously announced successor, Pierre Denis, declined to take up the role.
Harf commented: “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. 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.”
THE WHY? With Kylie Cosmetics hitting the headlines for all the wrong reasons, Coty will want a tried and trusted team member to steer the ship from here on in.