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Coty announces executive leadership change

Staff writer |
New York, USA - September 30, 2014, New York, USA - Coty Inc., a beauty company, announced that chief executive officer Michele Scannavini has stepped down from his role at the company for personal reasons and resigned from Coty’s board of directors.

Prior to becoming CEO on August 1, 2012, Mr. Scannavini was President of Coty Prestige. As part of that role he led the expansion and global business activities of Coty’s designer brand licenses and the growth of our fragrance business. Mr. Scannavini oversaw the growth of Skin & Body Care segment, successfully led the integration of several acquired businesses and completed the creation of a comprehensive fragrance portfolio through the launch of exclusive luxury licenses including notable brands such as Balenciaga, Bottega Veneta, Calvin Klein, Cavalli, Chloé, Davidoff, Jennifer Lopez, Marc Jacobs, among others.

Coty’s Chairman Bart Becht will become interim CEO, working with Coty’s Executive Committee to ensure a smooth transition and oversee major decisions at the company. Mr. Becht will remain as Chairman of the company once a permanent successor has been appointed.

Mr. Becht joined the Coty Board of Directors as Chairman in 2011. From 1999 to 2011, he served as chief executive officer of Reckitt Benckiser plc, a leading global consumer goods company in the field of household cleaning and health and personal care. Mr. Becht also held a variety of marketing, sales and finance positions at The Procter & Gamble Company.


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