Coty's 4th CEO in Less Than 4 Years Still Faces This 1 Huge Challenge
For the fourth time in less than four years, cosmetics maker Coty (NYSE: COTY) has named a new chief executive. Chairman Peter Harf, who served as the beauty brand's CEO between 1993 and 2001, is back in the position and hopefully ready to steer the struggling company into a turnaround.
Harf will succeed Pierre Laubies, replacing Pierre Denis who was supposed to take over the CEO role later this year. Laubies has grappled with an unprecedented clampdown on consumerism thanks to coronavirus-related lockdowns. He was also in charge at the time Coty inked a partnership with Kylie Jenner in January that implied Jenner's business was worth more than one billion dollars. More recent scrutiny suggests the value of Kylie Cosmetics is actually much, much less. Laubies took over for Camillo Pane in Nov. 2018, who took the helm in fall 2016.
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Source Fool.com
