Coty Appoints Markus Strobel as Executive Chairman and Interim CEO
American cosmetics group Coty has announced the appointment of Markus Strobel as Executive Chairman of the Board and Interim CEO effective January 1, 2026, according to a statement released this Sunday.
Extensive Experience in the Beauty Industry
Markus Strobel joins Coty after a 33-year career at Procter & Gamble, the statement notes. He recently held the position of President of the Global Skin & Personal Care division of the group, which includes a portfolio of more than 12 international brands. During his tenure at P&G, he led prestigious fragrance brands such as Gucci, Dolce & Gabbana, Valentino, and Hugo Boss. According to the company, Mr. Strobel notably led the transformation of the SK-II brand, repositioning it as a luxury skincare benchmark in Asia. He has held leadership roles in the sectors of perfumery, hair care, and shaving, across various markets including North America, China, Japan, Korea, and Europe.
Leadership Changes at Coty
This appointment follows the departure of two key figures in the company, the group specifies. Peter Harf is retiring from the board after more than three decades of service at Coty. Concurrently, Sue Nabi is stepping down as CEO after five years at the helm of the company. According to the statement, Peter Harf has helped transform Coty into a global beauty player, while Sue Nabi oversaw the launch of several successful fragrances, including Burberry Goddess, and significantly reduced the company's net financial debt to about three times Ebitda. The group emphasizes that these two leaders leave the company in a strong position for future growth.
Strategic Review Amidst Leadership Transition
According to the information provided, Markus Strobel will assume his role while Coty conducts a strategic review of its Consumer Beauty business, with full support from the board of directors. The new leader indicates that he sees significant potential during this period to accelerate growth and strengthen the group's position in the segments of prestige and mass-market beauty. Founded in Paris in 1904, Coty is one of the world's largest cosmetics groups with a portfolio of brands in the categories of fragrance, makeup, and body care. The group distributes its prestige and mass-market products in over 120 countries and territories.
