Due to family reasons, Coty CEO Camillo Pane has announced his resignation effective immediately, after being at the beauty giant’s helm for the last three years.
“We are all very thankful for Camillo’s valued service, his exemplary leadership and his passion for beauty and Coty’s brands and people over the last years,” Coty’s former chairman, Bart Becht said.
Pane will be replaced by Continental Foods member of board of directors Pierre Laubies.
Laubies has previously worked with Jacobs Douwe Egberts, Ontex and CVC Capital Partners in a number of senior roles.
In an effort to bring new perspectives to the company, Coty’s board has also announced a renewal process, and with it adding two new independent board members.
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