Earlier today, Coty Inc. announced a new organizational structure and the future leadership team for the company, both of which will become effective subject to completion of Coty’s merger with The Procter & Gamble Company’s fine fragrance, color cosmetics, salon professional and hair color and styling businesses (“P&G Specialty Beauty Business”). (Coty news release).
As part of the announcement, Coty appointed Sylvie Moreau, current Executive Vice President of Wella, the Salon Division of P&G, as the President of its future Coty Professional Beauty Division. Coty Professional Beauty Division will be one of Coty’s three divisions post-merger (alongside Coty Luxury and Consumer Beauty Division), focused on delighting salon owners and salon professionals in both Professional Hair and Nail Care. The division will include the full Wella P&G Salon Professional hair portfolio and Coty’s OPI brand, the world leader in the professional nail care industry.
“Sylvie is the perfect leader to head the future Coty Professional Beauty division and advance our position in the salon industry. With her 20+ years of experience and a track record of success in leading the global Wella (P&G's Salon Professional) business and team, she has the right leadership skills, passion for the industry and a strong vision required to lead the Coty Professional organization and its brands," Bart Becht, Coty Chairman and Interim CEO, says.
The merger with Coty is expected to close in second half of 2016, at which point Moreau will transfer to Coty and her appointment will enter into effect. Until then, Moreau will remain in P&G and continue her global leadership role in Wella.
"I am honored and delighted to be the future leader of Coty Professional Beauty, home to world's leading salon mega-brands Wella and OPI, “ Moreau says. “Both Wella and OPI are iconic leaders in the salon channel, with a fully complementary portfolio and passionate, expert organizations eager to win in our industry. We are both fueled by innovation, education and creativity and the desire to delight our salon professional partners. I am excited about our great future together, creating the best salon professional company in the world."
“Coty’s choice of Sylvie as leader of Professional Beauty is great news for all of us at Wella,” Sal Mauceri, CEO, Wella North America, says. “Sylvie’s deep salon experience makes her a great leader for the future organization. Her passion for Wella, its people and the salon industry is well-known in North America. I couldn’t be happier with the decision.”
Wella and OPI will continue to operate as separate businesses, parts of P&G and Coty, respectively, until the transaction close (expected in 2nd half of 2016).
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