NEW YORK, July 9, 2014 /PRNewswire/ -- Coty Inc. (NYSE: COTY) announced today a new organizational structure that aims to reinforce the company's growth path and strengthen its position as a global leader in beauty. The organization design will evolve from two stand-alone divisions, Coty Prestige and Coty Beauty, to a more integrated model built around categories and regions while maintaining prestige and mass differentiation and unique treatment in brand building, product development and sales execution where it represents a critical success factor.
The move is expected to bring a more holistic view of consumer evolution and growth opportunities by product category, resulting in a sharper innovation approach. This global effort is also expected to improve coordination and resource allocation between channels and markets, and to increase focus on specific consumer and retailer needs of each region. Further, it will eliminate duplication, ultimately bringing operational efficiencies to help accelerate Coty's path to profitable growth and generate additional resources to be re-invested behind Coty's power brands and strategic markets.
The new organization will be structured as follows:
Categories and Innovation
Renato Semerari, previously President, Coty Beauty, will assume the new role of President, Categories and Innovation. Under his leadership, this new group, integrating Marketing, R&D, Communications, Digital and Consumer Marketing Insight, will become the engine of strategic category and brand development, to drive best-in-class innovation worldwide. All Coty brands will be housed under four consumer-driven categories: Fragrance, Skin Care, Color Cosmetics and Body Care. Each category will have dedicated teams with specific skills and competencies to develop the prestige and mass portfolio with total respect for each of the brand's DNA and positioning. Leaders of the four categories will be:
Global Markets
Jean Mortier, previously President, Coty Prestige, will be appointed President, Global Markets, to better leverage the company's global scale and bring stronger sales execution. The markets will be organized under four regions: North America, Europe, APAC/MEA and Latin America. Each will be led by a Senior Vice President along with dedicated management teams to steer the business according to specific consumer and retailer needs and priorities. This new structure will support the progress toward developing a stronger global footprint. Leaders of the four regions will be:
Supply Chain, Finance, IT, Human Resources and Legal functions will be reorganized to best support categories and regions in developing and delivering top-quality products with high standard of service through efficient integrated processes.
"This evolved organization design will help us to advance our path to profitable growth," said Coty CEO Michele Scannavini. "We will be more consumer-driven, sharper in priority setting and resource allocation, and more agile, reducing duplications and redundancies over time. We are confident that this new organization will allow us to unleash the full potential of our brands and our talent."
