Coty Inc. announced that Markus Strobel will take on the roles of Executive Chairman and Interim Chief Executive Officer, starting January 1, 2026. He will take over from Sue Nabi, who is stepping down after five years as CEO.
Strobel joins Coty after more than thirty years at Procter & Gamble, where he most recently headed the global skin and personal care division. He will also serve as executive chairman, succeeding Peter Harf, who is retiring after over 30 years on Coty’s board.
According to the company, “As Executive Chairman and Interim CEO, Strobel will lead Coty at a pivotal moment for the Company. With a strategic review of the Consumer Beauty business underway, and the full support of the Board, Strobel sees significant opportunity to reinforce Coty’s leadership in beauty and unlock multiple avenues for profitable growth and expansion.”
Strobel commented, “I am delighted to join Coty at this important juncture. Building on Coty’s strong foundations, I see tremendous potential to accelerate growth, strengthen our position in prestige and mass beauty, and deliver sustainable value for shareholders, partners, and consumers worldwide.”
Coty’s hiring of Strobel comes at a pivotal time for the company, as a strategic review of its consumer beauty division is in progress. The review, initiated in September, might result in the sale of brands such as CoverGirl and Rimmel as Coty redirects its attention toward its more lucrative fragrances division.
Coty is a global beauty company with numerous subsidiaries and prestigious brands such as Gucci, Burberry, and Calvin Klein, as well as beauty brands like Bourjois, CoverGirl, ghd, Kylie Cosmetics, Max Factor, Rimmel, Sally Hansen, and Wella.
By CEO NA Editorial Staff
