Coty Inc. has made a significant leadership change, appointing Markus Strobel as the Executive Chairman of the Board and Interim Chief Executive Officer, effective January 1, 2026. Strobel joins Coty after a distinguished 33-year career at Procter & Gamble, where he most recently served as President of P&G’s Global Skin & Personal Care business, which included a multi-billion-dollar portfolio of over 12 global brands.
During his tenure at P&G, Strobel drove category and organizational transformation across P&G Beauty and revitalized SK-II into a leading prestige skincare brand in Asia. Notably, he held senior roles across Beauty & Grooming, including leading prestigious brands like Gucci, Dolce & Gabbana, Valentino, and Hugo Boss.
Strobel's appointment comes at a pivotal moment for Coty, with a strategic review of the Consumer Beauty business underway. Strobel sees significant opportunity to reinforce Coty’s leadership in beauty and unlock multiple avenues for profitable growth and expansion.
Strobel succeeds Peter Harf, who will retire from Coty’s Board after more than three decades of service, and Sue Nabi, who will step down as Chief Executive Officer following a five-year tenure. Under Nabi's leadership, several blockbuster fragrances were launched, including Burberry Goddess, and Coty's financial net leverage was materially reduced to ~3x.
Coty Inc., founded in Paris in 1904, is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. The company serves consumers globally, selling prestige and mass market products in over 120 countries and territories. Today the company's shares have moved 0.46% to a price of $3.265. If you want to know more, read the company's complete 8-K report here.
