Ralph Macchio Coty Chief Scientific Officer to Retire
14 June 2017 - 12:30AM
Business Wire
Successor to Be Appointed in Near
Future
Coty Inc. (NYSE:COTY) today announced that Ralph Macchio, Chief
Scientific Officer and Senior Vice President of Global Research
& Development, will retire from Coty after a distinguished 25
years with the company. The retirement has been in the pipeline for
a couple of years, but Ralph agreed to postpone it until after the
merger and integration with P&G Beauty Business was well
advanced.
Camillo Pane, Coty’s CEO, said, “Ralph has been an amazing
R&D leader in the beauty industry and retires after a truly
distinguished career. He has developed many iconic products over
the years, pioneered radical and breakthrough technologies and
authored numerous patents. These include our highly successful
Sally Hansen Miracle Gel, one of the biggest nail successes in
beauty, having won 34 awards, and Rimmel Lash Accelerator Mascara,
proven to help grow lashes, to name just two. My many thanks, and
those of our Board and Executive Committee members, and all his
colleagues at Coty go to Ralph for his leadership, commitment,
drive and passion for our business, and for the expertise he has
brought. We wish him a great retirement.”
A successor will be announced in the near future.
Ralph will leave Coty on June 30, 2017. During the interim
period, the R&D team will report to the CEO.
About Coty Inc.
Coty is one of the world’s largest beauty companies with
approximately $9 billion in revenue, with a purpose to celebrate
and liberate the diversity of consumers’ beauty. Its strong
entrepreneurial heritage has created an iconic portfolio of leading
beauty brands. Coty is the global leader in fragrance, a strong
number two in professional salon hair color & styling, and
number three in color cosmetics. Coty operates three divisions –
Coty Consumer Beauty, which is focused on color cosmetics, retail
hair coloring and styling products, body care and mass fragrances
sold primarily in the mass retail channels with brands such as
COVERGIRL, Max Factor and Rimmel; Coty Luxury, which is focused on
prestige fragrances and skincare with brands such as Calvin Klein,
Marc Jacobs, Hugo Boss, Gucci and philosophy; and Coty Professional
Beauty, which is focused on servicing salon owners and
professionals in both hair and nail, with brands such as Wella
Professionals, Sebastian Professional, OPI and ghd. Coty has
approximately 20,000 colleagues globally and its products are sold
in over 130 countries. Coty and its brands are committed to a range
of social causes as well as seeking to minimize its impact on the
environment.
For additional information about Coty Inc., please visit
www.coty.com.
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