Coty Announces Appointment of Caroline Andreotti as Chief Commercial Officer, Prestige

Rhea-AI Summary

Coty (NYSE: COTY) has appointed Caroline Andreotti as its new Chief Commercial Officer (CCO) for Prestige, effective April 1, following Isabelle Bonfanti's departure after 2.5 years in the role. Caroline, who has over 20 years of experience in the beauty industry, including 15 years at Coty, will spearhead Coty’s global Commercial prestige strategy. Her previous successes include leading Coty's growth in the Asian market and overseeing the launch of successful products in travel retail. CEO Sue Y. Nabi praised Caroline's track record and expertise, particularly in the Asian beauty sector.

Positive

• Appointment of Caroline Andreotti as CCO for Prestige expected to enhance Coty's global strategy.
• Caroline's extensive experience in the beauty sector and proven leadership could drive innovation and growth in Coty's prestige portfolio.
• Her background in the Asian market offers potential for expanded market share in the region.

Negative

• Transition period after Isabelle Bonfanti's departure may create initial instability in leadership.

NEW YORK--(BUSINESS WIRE)-- Today, Coty (NYSE: COTY), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care, announced the appointment of Caroline Andreotti as its Chief Commercial Officer (CCO) for Prestige, effective April 1^st, following Isabelle Bonfanti stepping down from the role after 2.5 years.

Caroline, currently EVP global premium skincare, is a highly experienced and respected leader at Coty, with more than 20 years of experience across the beauty industry, 15 of which has been with Coty. She has deep expertise in the Asian market, having worked in the region through much of her career, and an outstanding track record in fragrance, skin and body care, and color cosmetics. As head of Travel Retail, she began the pivot toward ultra-premium fragrances with the opening of the first Chloé Atelier des Fleurs counters. They proved very successful, with Chloé Atelier des Fleurs becoming the #1 artisanal fragrance in Sephora China, as well as Coty’s #1 fragrance brand in travel retail in the APAC region. Caroline also pioneered the re-birth and expansion of Lancaster in Hainan. Most recently, she led the global skincare expansion agenda for three of Coty’s prestige skincare brands: Orveda, Lancaster and philosophy.

As CCO, Prestige, Caroline will focus on Coty’s global Commercial prestige strategy. She will continue to strengthen Coty’s position as a worldwide leader in Prestige fragrances, accelerate Prestige make-up innovations, and push the skincare growth journey in Asia and beyond.

“Caroline is a highly accomplished leader who has a strong track record for delivering brand and channel growth, as well as developing and leading high performing teams. She is an expert in the Asian beauty market and is therefore ideally placed to drive our strategic growth in China, our ambitious plans in skincare and the consolidation of our leading position in fragrances. It gives me great pleasure to appoint Caroline as Coty’s CCO for Prestige, and her promotion is testament to the depth of talent we have within Coty,” said Sue Y. Nabi, Coty’s CEO. She went on to say: “We also thank Isabelle for her passion and leadership in recent years, laying the foundations for Coty’s long-term success in Prestige.”

About Coty Inc.

Founded in Paris in 1904, Coty is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. Coty serves consumers around the world, selling prestige and mass market products in more than 130 countries and territories. Coty and our brands empower people to express themselves freely, creating their own visions of beauty; and we are committed to making a positive impact on the planet. Learn more at coty.com or on LinkedIn and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230330005231/en/

Antonia_werther@cotyinc.com

Source: Coty

FAQ

Who is the new Chief Commercial Officer for Coty?

Caroline Andreotti has been appointed as the new CCO for Prestige at Coty, effective April 1.

What experience does Caroline Andreotti have?

Caroline has over 20 years in the beauty industry, including 15 years with Coty, and is known for her expertise in the Asian market.

What will Caroline Andreotti focus on as CCO for Prestige?

She will manage Coty’s global Commercial prestige strategy, strengthen their position in fragrances, and expand skincare growth.

Why did Isabelle Bonfanti step down as CCO?

The press release does not specify the reasons for Isabelle Bonfanti's departure after 2.5 years in the role.

When is Caroline Andreotti's start date?

Caroline Andreotti will officially start as CCO on April 1.