THE WHAT? Coty has announced that Simona Cattaneo is to step down from her role as President, Luxury Brands after five years at the US beauty behemoth. She will leave the company this summer and her successor is yet to be announced.
THE DETAILS “I want to sincerely thank Simona for her leadership, commitment and passion over the last five years,” commented Coty CEO, Sue Y. Nabi. “She played a key role in building our prestige brands portfolio – expanding our presence in the make-up space, and strengthening our relationships with Coty’s licensors, as well as successfully integrating Kim and Kylie’s beauty businesses into our portfolio. Simona has helped lay the foundations for Coty’s long-term success and we wish her the very best in the next chapter of her career.”
THE WHY? While there’s no word on Cattaneo’s next steps as yet, she revealed, “Having joined Coty in 2016 as Chief Marketing Officer, it has been a fantastic experience to work with so many inspirational people as I have progressed through the organization. Coty is fortunate to have passionate and dedicated staff throughout business and strong relationships with our licensors. As I move on from Coty to pursue other interests, I’m delighted to see the business positioned for future success.”