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Markus Strobel joins Coty after a 33-year career at Procter & Gamble (NYSE:PG)where he most recently served as president of Global Skin & Personal Care, overseeing a multi-billion dollar portfolio of more than a dozen global brands.
Notably, Strobel will succeed Peter Harfwho is retiring after more than 30 years on Coty’s board of directors, and Sue Nabiwho will step down as CEO after five years.
Harf helped grow Coty into a global beauty leader, while Nabi launched popular fragrances like Burberry Goddess and reduced the company’s net debt to ~3x.
Sale of Wella assets
Last week, the company announced the sale of its remaining 25.8% stake in Wella KKR & Co. Inc.–managed accounts and affiliates for an upfront cash amount of $750 million and 45% of any future sale or IPO proceeds after KKR’s desired return.
Combined with strong free cash flow of more than $350 million in the first half of fiscal 2026, this is expected to reduce Coty’s net leverage to approximately 3x by the end of 2025.
COTY Price Promotion: Coty shares fell 0.31% to $3.25 in premarket trading on Monday. The stock is trading around a 52-week low of $3.12, according to data from Benzinga Pro.
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