Beauty Industry

Coty Faces Leadership Overhaul

CEO Sue Nabi may leave the company as controlling shareholder JAB Holding plans to recover mass beauty sales losses.

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By: Rachel Klemovitch

Assistant Editor

Coty’s controlling shareholder, JAB Holding, plans a leadership overhaul that could result in the exit of CEO Sue Nabi and board chair Peter Harf. 

According to the Financial Times, Coty’s mass beauty segment has struggled in the past few years as competition has grown. 

After the leadership news was reported, shares fell 2% and lost 52% of its share value this year.

Coty is also set to lose its Gucci fragrance and beauty products license since parent company, Kering, agreed to sell its beauty business to L’Oreal.

The Financial Times also said that Coty CEO Nabi turned down substantial financial offers from L’Oreal to end the Gucci license early.

JAB’s push for leadership overhaul would first lead to the exit of Harf, and a new chair would soon find a replacement for Nabi.

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Photo: Shutterstock/ Grand Warszawski

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