Coty launches global unit
This article was originally published in The Rose Sheet
Executive Summary
Coty brings together its mass businesses in the Americas, Europe and Asia into a single global business unit entitled Coty Beauty. The reorganization will strengthen Coty's efforts to build the portfolio and to create new opportunities in Asia, company says. The reorganization positions the company to achieve its goal of becoming a "top-five global beauty company," CEO Bernd Beetz says in a Feb. 19 statement. The new division will be led by Hans Joachim Honigfort, the former president of Coty Beauty Europe. The company reorganized its global prestige business in 2006 with the creation of the Coty Prestige division. In October 2006, Beetz presented the firm's strategy for doubling in size to become a $ 5 bil. company within five years (1"The Rose Sheet" Oct. 9, 2006, p. 5)...
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People In Brief
Cleary to head Coty Beauty U.S.: Coty taps George Cleary as president of Coty Beauty's U.S. business in a move that will further strengthen the leadership of the overall Coty Beauty portfolio, firm announces April 23. In his new role, Cleary will manage all Coty brands distributed in the U.S. and be responsible for seeking out new business ventures and collaborations, firm says. He will report to Coty Beauty President Hans Joachim Honigfort. Prior to joining Coty, Cleary spent 15 years with Johnson & Johnson, where he most recently headed customer and business development in emerging markets such as China, Russia and Brazil. He has also served as managing director of Johnson & Johnson Caribbean and is credited with increasing the division's top-line growth and restoring profitability in a "rapidly declining region." Furthermore, Clearly contributed to the success of Aveeno, Clean & Clear and ROC, Coty says. Coty combined its mass businesses under Coty Beauty in March (1"The Rose Sheet" March 5, 2007, In Brief)...
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