Coty to name Chairman Harf as CEO

Coty’s (NYSE:COTY) current Chairman Peter Harf also will take on the CEO role as soon as tomorrow, becoming the company’s fourth new chief executive in less than four years, WSJ reports.

The move will leave the company’s fortunes directly in the hands of its largest shareholder, JAB Holding, of which Harf is one of two managing partners.

Coty had announced in February that Pierre Denis, a company director and former head of the Jimmy Choo fashion brand, would take over the CEO role this summer.

The leadership turmoil underscores the challenges Coty faces to successfully emerge from more than $8B in debt at the end of March and a failed attempt to compete against Estée Lauder and L’Oréal.


READ  MARKET REPORT: Investors in peer-to-peer lender Funding Circle breath sigh of relief


Please enter your comment!
Please enter your name here