Coty has announced the appointment of a new CEO. Camillo Pane, currently Executive Vice President of Coty’s Category Development and a member of the company’s Executive Committee, will take up the post as well as become a member of the Coty Board, effective the day after the closing of the P&G Specialty Beauty merger, which is anticipated for October this year.
Bart Becht, who has stayed as Interim CEO for longer than first anticipated after Elio Leoni Sceti turned down the role last July, will continue to serve as Chairman of Coty’s Board.
“I’m very pleased to see Camillo appointed as CEO of Coty. He has an excellent track record of accelerating growth, improving business performance and strengthening capabilities to create best-in-class organization. At Coty, he has already shown himself to be a very strong leader with an intense drive and passion to make Coty the new global challenger in Beauty for the benefit of both consumers and shareholders alike,” commented Becht.
Pane joined Coty last July from Reckitt Benckiser, where he worked for 20 years, with his various roles spanning several markets. With immediate effect, he will be preparing for the transition to his new role, focusing on leading the revenue growth agenda in preparation for the closing of the P&G transaction, while Becht will continue to focus on the integration.