Beiersdorf to focus on skin care
This article was originally published in The Rose Sheet
Executive SummaryExpecting uneven international growth, increased competition from private label and consumers opting for lower-priced goods in the next few years, Hamburg, Germany firm decides to focus its efforts on skin care and addressing regional customer markets, according to a March 31 release. Fifty percent of anticipated global growth in the cosmetics market will be in skin care, says Beiersdorf Chairman Thomas-B. Quaas. "This translates into excellent growth opportunities for Beiersdorf, because skin care has always been our core competence," he adds. Firm also announced executive board organizational changes. Former Human Resources leader Peter Kleinshcmidt will leave the company; Bernhard Duttmann will take on his duties and maintain his position as finance chief. Markus Pinger will oversee the Americas region as well as the global supply chain, James C. Wei will oversee the firm's Asian business and a new board member will be named for Europe
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