According to a report from the Wall Street Journal citing sources familiar with the matter at hand, Coty Inc is set to announce that its current chairman, Peter Harf, will be replaced by the company’s new chief executive officer, Pierre Laubies.
Harf will become the company’s new CEO from today.
The development marks the 4th change in the Coty’s top leadership in less than four years.
Coty declined to comment.
Harf, one of two managing partners of Coty’s largest shareholder, JAB Holding Co, will “jointly oversee a newly created executive committee alongside Chief Financial Officer Pierre-Andre Terisse and Gordon von Bretten, the company’s chief transformation officer,” said the report.