Coty has named Markus Strobel as its new CEO, effective January 1st. Strobel joins the beauty giant after a 33-year career at Procter & Gamble, where he most recently led their Global Skin & Personal Care business. He brings extensive experience in fragrance, having managed brands like Gucci, Dolce & Gabbana, and Hugo Boss.
This leadership change occurs as Coty finalises its exit from Wella and undertakes a strategic review of its Consumer Beauty division. Strobel's background, particularly his success in prestigious fragrance brands and P&G's global operations, signals a potential focus on elevating Coty's premium offerings and streamlining market strategies.
The departure of Sue Nabi, who led Coty for five years and founded the vegan skincare brand Orveda, marks the end of an era. Her tenure saw increased emphasis on Coty’s fragrance segment, including the launch of new scent brand Origen in July. Peter Harf also retires from the Board after over three decades.
Strobel's stated ambition to "accelerate growth, strengthen our position in prestige and mass beauty, and deliver sustainable value" aligns with Coty's ongoing restructuring. The question remains how his P&G experience will translate to Coty's specific challenges and opportunities, particularly in revitalising its consumer-facing brands.
