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Coty CEO Scannavini Steps Down

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Coty CEO Michele Scannavini has resigned due personal reasons, according to the company. Chairman Bart Becht will take over as interim CEO while the company begins immediate search for a successor. Becht will continue to serve as Coty’s chairman after a new chief executive is hired.

Scannavini also resigned his spot on the company’s board. He became CEO in August 2012 after working as the president of Coty Prestige since he joined the company in 2002.

“Michele has been a material part and key contributor to Coty’s success over the past decade,” Becht said in a news release. “We would like to thank him in particular for taking Coty public through a listing on the New York Stock Exchange and developing a clear strategy for Coty’s future.”

Coty went public in June 2013, as the company sought to fuel continued growth, particularly in international markets.

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