Coty has reorganized and announced plans to transfer management offices to London as it begins the process of integrating brands it has acquired from P&G. These acquisitions have made Coty a top beauty player in several categories and the leader in fragrance. Now, Coty's new CEO, Camillo Pane, will be tasked with integrating all of the company's brands.
Pane, who currently serves as executive vice president of Coty's category development, will have his appointment occur in October when the merger of P&G Specialty Beauty into Coty is closed. Bart Becht, current CEO and board chairman, will continue to serve as the chairman of Coty’s board.
"The new Coty will have a strong portfolio of consumer-loved beauty brands with excellent potential and a highly experienced management team..."
Pane will oversee Coty's revenue agenda while Becht continues to focus on the post-merger integration of brands.
Pane has been with Coty since 2015 and previously held roles with Reckitt Benckiser plc.
“I am honored to become the CEO of Coty at such a great moment for the company," said Pane. "The new Coty will have a strong portfolio of consumer-loved beauty brands with excellent potential and a highly experienced management team, which it will be my privilege to lead.”
Pane’s successor as Coty’s executive vice president, category development, will be announced at a later time.
“I’m very pleased to see Camillo appointed as CEO of Coty," said Becht. "He has an excellent track record of accelerating growth, improving business performance and strengthening capabilities to create a best-in-class organization. At Coty, he has already shown himself to be a very strong leader with an intense drive and passion to make Coty the new global challenger in beauty for the benefit of both consumers and shareholders alike.”