Coty Inc., the global beauty company behind brands such as CoverGirl, Rimmel and Sally Hansen, announced a major leadership transition as it prepares for a new chapter in its turnaround strategy. Effective January 1, 2026, long‑time Procter & Gamble executive Markus Strobel will join Coty as interim chief executive officer and executive board chair, replacing Sue Nabi, who steps down after roughly five years at the helm.
Strobel brings more than three decades of experience from Procter & Gamble, where he most recently led the global skin and personal care business and oversaw premium fragrance and personal care brands. In his new role, he will succeed both Nabi as CEO and Peter Harf as board chair, with Harf retiring after more than 30 years of service.
In announcing the leadership change, Strobel said he sees “tremendous potential to accelerate growth, strengthen our position in prestige and mass beauty, and deliver sustainable value for shareholders, partners and consumers worldwide,” highlighting a renewed focus on performance and strategic alignment.
The shift in leadership comes amid a broader strategic review at Coty, designed to sharpen the company’s focus on its most competitive segments — particularly fragrances and premium beauty — while navigating macroeconomic headwinds and intensifying competition from digitally native brands.
Analysts have noted that Coty has experienced weak sales in its mass beauty business and faced pressure on share performance, prompting its controlling shareholder, JAB Holdings, to pursue changes that could reshape the company’s direction.
Nabi’s tenure saw notable product launches and financial repositioning, but recent results and industry dynamics have underscored the challenges facing legacy beauty portfolios.
The leadership overhaul reflects a broader trend of executive turnover in consumer goods as companies seek fresh perspectives to drive growth in a shifting retail environment.
