Coty Names P&G Insider Markus Strobel Interim CEO

Coty Inc. (NYSE:COTY) on Monday disclosed that Markus Strobel will assume the roles of Executive Chairman of the Board and Interim CEO, effective January 1, 2026.

Details

Markus Strobel joins Coty after a 33-year career at Procter & Gamble (NYSE:PG), where he most recently served as President of Global Skin & Personal Care, overseeing a multi-billion-dollar portfolio of 12+ global brands.

Notably, Strobel will succeed Peter Harf, who is retiring after more than 30 years on Coty's Board, and Sue Nabi, who steps down as CEO after five years.

Harf helped establish Coty as a global beauty leader, while Nabi launched hit fragrances like Burberry Goddess and reduced the company's net leverage to ~3x.

Wella Asset Sale

Last week, the company disclosed the sale of its remaining 25.8% stake in Wella to KKR & Co. Inc.–managed accounts and affiliates for an upfront cash of $750 million and 45% of any future sale or IPO proceeds after KKR's preferred return.

Combined with the strong free cash flow of over $350 million in the first half of fiscal 2026, this is expected to lower Coty's net leverage to around 3x by the end of 2025.

COTY Price Action: Coty shares were down 0.31% at $3.25 during premarket trading on Monday. The stock is trading near its 52-week low of $3.12, according to Benzinga Pro data.

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