New York – September 9th, 2019 – Coty Inc. (NYSE: COTY) today announced a strengthened Leadership organization for its Supply Chain to support its ongoing turnaround plan and future growth.
After the initial phase focusing on stabilizing the Supply Chain, putting in place the necessary immediate corrections with respect to our 2018 challenges which are now behind us, as well as assessing the strengths and weaknesses of this function and design the roadmap of its evolution in our turnaround plan, the time has now come to implement the action plans and focus on the key value creation objectives.
Those objectives will be at the core of the refined Leadership organization for the Coty Supply Chain in which the Procurement function and Supply Operations will be organizationally disassociated and reinforced. Both will report directly to Pierre Laubies, Coty’s Chief Executive Officer, and will sit at the Executive Committee. Ad interim, Procurement will be led by Gianluca Colombo - Chief Procurement Officer, and Supply Operations will be led by Jean-Claude Thomas.
Pierre Laubies said: “Today’s organizational changes are important steps in supporting our ongoing transformation and our strategic roadmap for future growth. Reducing complexity and costs will drive operational leadership and unlock opportunities for reinvestment and profit expansion”.
Following this redesign, Luc Volatier (51), current Chief Global Supply Officer and a member of the Executive Committee, is retiring from Coty.
Pierre Laubies said: “We thank Luc and wish him the best in his future endeavours. He has made a significant contribution to Coty during his time as Chief Global Supply Officer. His leadership was important in implementing the immediate necessary corrections with respect to our 2018 supply chain challenge, and assess the actions necessary to the turnaround”.
Olga Levinzon, +1 212 389-7733
Lisa Kessler, +917 348-3373
Arnaud Leblin, +33 1 58 71 72 00
About Coty Inc.
Coty is one of the world’s largest beauty companies with an iconic portfolio of brands across fragrance, color cosmetics, hair color and styling, and skin and body care. Coty is the global leader in fragrance, a strong number two in professional hair color & styling, and number three in color cosmetics. Coty’s products are sold in over 150 countries around the world. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment.
For additional information about Coty Inc., please visit www.coty.com.