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Coty CEO Steps Down, Chairman Bart Becht To Be Interim CEO

Beauty company Coty Inc. (COTY) said Chief Executive Officer Michele Scannavini has stepped down from his role for personal reasons and resigned from Coty's Board of Directors.

Coty's Chairman Bart Becht will become interim CEO, working with Coty's Executive Committee to ensure a smooth transition and oversee major decisions at the company.

The company intends to commence a search process for Scannavini's permanent successor immediately. Becht will remain as Chairman of the company once a permanent successor has been appointed.

Becht joined the Coty Board of Directors as Chairman in 2011. From 1999 to 2011, he served as chief executive officer of consumer goods firm Reckitt Benckiser Plc.

He also held a variety of marketing, sales and finance positions at The Procter & Gamble Co.

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