Coty appoints Markus Strobel as executive chairman and interim CEO starting January 1, 2026. Strobel comes from Procter & Gamble with 33 years of experience, overseeing beauty & grooming and leading innovation in markets like North America and Asia. He aims to accelerate growth and strengthen Coty’s position in beauty.

Strobel’s role includes steering Coty through a strategic review of its Consumer Beauty division. He aims to accelerate growth, strengthen the company’s position in prestige and mass beauty, and deliver value for shareholders, partners, and consumers worldwide. His appointment follows planned departures of Peter Harf and Sue Nabi from Coty’s board and CEO position.

Coty, a beauty company founded in 1904, operates in over 120 countries with fragrance, cosmetics, and skin care brands. Earlier this week, Coty agreed to sell its remaining 25.8% stake in Wella to investment funds managed by KKR. Strobel sees potential to accelerate growth and strengthen Coty’s position in the beauty market.

Read more at Yahoo Finance: Coty appoints Markus Strobel as executive chairman and interim CEO