Coty Names Dr. Shimei Fan as Chief Scientific Officer

Rhea-AI Summary

Coty, Inc. (NYSE: COTY) has appointed Dr. Shimei Fan as Chief Scientific Officer, effective January 3, 2022. Dr. Fan, a 30-year veteran in the beauty industry, will lead R&D and sustainability initiatives from Amsterdam. With experience at Shiseido, Beiersdorf, and Unilever, she will focus on enhancing Coty's skincare portfolio and advancing sustainable product development. CEO Sue Y. Nabi highlighted that Dr. Fan's appointment reflects Coty’s commitment to sustainability as a driver of beauty innovation and future success.

Positive

• Appointment of Dr. Shimei Fan as Chief Scientific Officer to enhance R&D efforts and sustainability.
• Dr. Fan brings extensive industry experience, strengthening Coty's leadership in clean and innovative beauty products.
• Focus on integrating sustainability into product development aligns with market trends and consumer demand.

Negative

• None.

30-year Beauty Industry veteran to lead sustainable R&D and innovation division

NEW YORK--(BUSINESS WIRE)-- Coty, Inc. (NYSE: COTY) today announced that Dr. Shimei Fan, formerly Senior Vice President of Shiseido’s Americas Innovation Center, will join the company as Chief Scientific Officer, reporting to CEO Sue Y. Nabi. Shimei will take up the role on January 3, 2022 and will be based in Amsterdam.

As Chief Scientific Officer, Shimei will head up the 500 employees in the organization’s global R&D and innovation function and lead on sustainability. Coty R&D is responsible for expanding and evolving the organization’s best-in-class portfolio of products, by creatively combining cutting-edge technologies with prevailing beauty trends. With a rich heritage of scientific mastery and development of ownable technology and winning innovation, the team ensures sustainability, and the needs of Coty’s consumers are at the heart of every innovation.

“We could not be more thrilled to welcome Shimei, an innovative beauty scientist and seasoned R&D leader with a 30-year track record of delivering highly innovative, sustainable and clean consumer products for the world’s leading beauty companies,” said Sue Y. Nabi, CEO of Coty.

“Coty is leading the field of 'Clean Beauty That Works', and with Shimei as Chief Scientific Officer leading on sustainability, we are demonstrating our belief that sustainability is the ultimate driver of beauty innovation and central to Coty’s continued success. Shimei shares this vision, and we are excited to add her talents and expertise to the company’s senior leadership.”

From her prior experience at Shiseido, Beiersdorf, and Unilever, Shimei brings deep and invaluable expertise across three of Coty’s strategic growth drivers: color cosmetics, skincare and the Chinese beauty market.

As part of her role, she will focus on implementing Coty’s unique portfolio of key IP, such as skincare ingredients, encapsulation technologies, or skin protection know-how, to boost the company’s skincare portfolio of seven brands. At the same time, she will be ensuring Coty’s skincare and color cosmetics ranges continue to become totally inclusive, as the company continues to make substantial investments in both businesses.

“As a beauty scientist and consumer, I have always admired the creativity, thought and care that Coty puts into its products and the respect the company has for its people and our planet,” said Shimei. “I am very excited to join Coty at this time, as the company continues to raise the bar in sustainable product development.”

Prior to her time at Shiseido, Shimei was Vice President of Global R&D at Beiersdorf and Global R&D Director at Johnson & Johnson’s consumer division. She started her consumer products R&D career at Unilever, where she spent 22 years.

Shimei earned a bachelor’s degree in Nuclear Chemistry from Fu-Dan University in Shanghai, one of the world’s leading Universities in the Sciences, a master’s degree in Superconductors from Cambridge University, and a Ph.D. in Physical Chemistry from the University of Southampton.

Her appointment as Coty’s Chief Scientific Officer, whose R&D responsibilities were previously held by the Chief Supply Officer and Head of R&D, reflect Coty’s belief that sustainability-driven innovation is the key to the company’s continued and future success.

About Coty

Coty is one of the world’s largest beauty companies with an iconic portfolio of brands across fragrance, color cosmetics, and skin and body care. Coty is the global leader in fragrance, and number three in color cosmetics. Coty markets, sells, and distributes the products in approximately 130 countries and territories. 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.

Source: Coty Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211116005836/en/

Investor Relations

Olga Levinzon

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Olga_Levinzon@cotyinc.com

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Antonia Werther

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Antonia_Werther@cotyinc.com

Source: Coty Inc.

FAQ

Who has been appointed as Chief Scientific Officer of Coty?

Dr. Shimei Fan has been appointed as Coty's Chief Scientific Officer.

When does Dr. Shimei Fan start her role at Coty?

Dr. Shimei Fan will begin her role on January 3, 2022.

What will Dr. Shimei Fan focus on as Chief Scientific Officer of Coty?

She will focus on R&D and sustainability initiatives to enhance Coty's skincare portfolio.

What relevant experience does Dr. Shimei Fan bring to Coty?

Dr. Fan has 30 years of experience in the beauty industry, previously working at Shiseido, Beiersdorf, and Unilever.

What is Coty's commitment regarding sustainability?

Coty aims to lead in 'Clean Beauty That Works' by integrating sustainability into innovation.