Coty Inc. Appoints Markus Strobel as Executive Chairman and Interim CEO

Coty Inc. (NYSE: COTY) has announced a significant leadership transition, appointing Markus Strobel as Executive Chairman of the Board and Interim Chief Executive Officer, effective January 1, 2026. This strategic move comes as the company embarks on a pivotal phase, with a thorough review of its Consumer Beauty business currently underway.

Markus Strobel joins Coty after a remarkable 33-year career at Procter & Gamble (P&G), where he held various leadership roles culminating in his position as President of P&G’s Global Skin & Personal Care segment. This division included a multi-billion-dollar portfolio encompassing more than 12 global brands. Strobel is renowned for his ability to drive category and organizational transformation, particularly in the beauty sector. Notably, he revitalized SK-II, turning it into a leading prestige skincare brand across Asia.

Throughout his tenure at P&G, Strobel was instrumental in managing high-profile brands within the beauty and grooming sectors, including Gucci, Dolce & Gabbana, Valentino, and Hugo Boss. His expertise spans innovation, product supply, marketing, and operational strategy, with experience in key markets such as North America, Greater China, Japan, Korea, and Europe.

In his new role, Strobel aims to leverage Coty’s existing strengths to unlock new avenues for profitable growth and expansion. He expressed enthusiasm about joining the company at this critical juncture, stating, “Building on Coty’s strong foundations, I see tremendous potential to accelerate growth, strengthen our position in prestige and mass beauty, and deliver sustainable value for shareholders, partners, and consumers worldwide.”

Strobel's appointment comes at a time when Coty is looking to reinforce its leadership in the beauty industry while navigating the complexities of a strategic business review. The full support of the Board underscores the confidence in Strobel's vision for the company.

Markus Strobel succeeds Peter Harf, who will retire from Coty’s Board after more than 30 years of dedicated service. Harf’s leadership has been pivotal in shaping Coty into a global beauty powerhouse. Additionally, Sue Nabi, who has served as Chief Executive Officer for five years, will step down. During her tenure, Nabi oversaw the launch of several successful fragrance lines, including the Burberry Goddess, while also implementing strategies that significantly reduced Coty’s financial net leverage to approximately 3x.

Both Harf and Nabi leave behind a robust foundation for future growth, positioning Coty for continued success under Strobel's leadership.

Founded in Paris in 1904, Coty is recognized as one of the largest beauty companies globally, boasting an impressive portfolio of iconic brands across fragrance, color cosmetics, and skincare. Coty’s products are available in over 120 countries and territories, empowering consumers to express their unique visions of beauty while committing to sustainable practices.

As Coty prepares for this new chapter under Markus Strobel, all eyes will be on the company to see how it navigates the evolving beauty landscape and continues to enhance its position as a leader in the industry.