Bart Becht to remain as Coty CEO

NEW YORK – Bart Becht will remain as interim chief executive officer of Coty, the global beauty said. Mr. Becht will also continue in his role as chairman of Coty. In connection with this change, Elio Leoni Sceti, who was planned to assume the role of CEO in July, has reconsidered and decided not to join Coty. 

 

In a statement, Peter Harf, director and chairman of the Remuneration and Nomination Committee of Coty, said the Coty Board of Directors determined that leadership continuity is critical in ensuring the continued success of the company’s strategy implementation. 

 

“We certainly understand Elio’s decision not to join Coty as planned, thank him for his professionalism throughout this process and we wish him all the best in his future endeavors,” Mr. Hart also stated.

 

Coty Inc. (NYSE:COTY) posted net revenues $4.6 billion for the fiscal year ended June 30, 2014. The company’s product offerings include as adidas, Calvin Klein, Chloé, DAVIDOFF, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.