[ad_1]
Coty Inc.
COTY + 1.88%
On Monday, Camillo Pane stepped down as President and CEO "for family reasons," starting today. The beauty company has named Pierre Laubies to the role. Laubies will also become director of Coty, with immediate effect. Laubies was until recently the CEO of Jacobs Douwe Egberts, a coffee company. The Board also agreed to begin the process of adding two independent members to the Board of Directors, Peter Harf now assuming the role of Chairman of the Board of Bart Becht, and Erhard Schoewel being appointed Senior Independent Director . Last week, Coty, whose brands include CoverGirl and Max Factor, announced a loss in the first quarter due to the cancellation of supplies. Coty's shares edged up 0.7% in pre-market trading, but are down 57.3% for 2018 to date. The S & P 500 index is up 4% for the period.
Have the latest news sent to your inbox. Subscribe to free e-mails from the MarketWatch newsletter. Register here.
Source link
