Transformation complete? Coty parts ways with Chief Transformation Officer

Transformation complete? Coty parts ways with Chief Transformation Officer

THE WHAT? Coty has entered into a separation agreement with its Chief Transformation Officer, Gordon von Bretten. The US beauty giant has also announced that von Bretton has been appointed to the board, effective April, 2024.

THE DETAILS According to an SEC filing, under the terms of the agreement, von Bretton who took up the post in June 2020, will serve up until March 31, 2024, receive severance of €325,000 and a pro rata portion of his outstanding equity awards will vest.

THE WHY? Coty did not give a reason for von Bretten’s departure but presumably, having filed consistently higher than expected results, the company’s transformation is complete.

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