logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Southwest Airlines Co. said it will investigate whether a dispute with its mechanics union was the cause of an "unprecedented number" of out-of-service aircraft that resulted in flight cancellations and flight delays. Southwest Airlines COO Mike Van de Ven said in a statement that the airline has been negotiating with Aircraft Mechanics Fraternal Association or AMFA for more than six years. Shares of Air France-KLM Group were gaining around 4 percent in Paris trading after the airline reported Wednesday narrower net loss in its fourth quarter with improved revenues. For fiscal 2019, Air France-KLM Group plans to selectively grow capacity for the Passenger network by 2 percent to 3 percent compared to 2018. The company also said it will pursue initiatives to reduce unit costs. Walmart Inc. (WMT) reported adjusted EPS of $1.41 for the fourth-quarter of fiscal 2019. On average, 27 analysts polled by Thomson Reuters expected the company to report profit per share of $1.33 for the quarter. Analysts' estimates typically exclude special items. Net income attributable to Walmart...
Follow RTT