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Coty announces new organizational structure
July 9th, 2014
NEW YORK – Coty Inc. has revamped its organization to create a more integrated, consumer-focused business model.
The global beauty care company said Wednesday that the new structure will evolve from two stand-alone divisions, Coty Prestige and Coty Beauty, and be built around categories and regions while maintaining prestige and mass differentiation, as well as unique treatment in brand building, product development and sales execution.
Renato Semerari, previously president of Coty Beauty, will assume the new role of president of categories and innovation. Coty said the new group will integrate marketing, research and development, communications, digital and consumer marketing insight to become "the engine of strategic category and brand development, to drive best-in-class innovation worldwide."
All Coty brands will be grouped into four categories — fragrance, skin care, color cosmetics and body care — that each will have a dedicated team to develop the prestige and mass portfolio.
Steve Mormoris, who led Coty Prestige American fragrance marketing, has been named CMO of fragrances, and Johanna Businelli, previously in charge of Coty Beauty color cosmetics marketing, has been appointed CMO of color cosmetics. Jill Scalamandre, formerly overseeing Coty Prestige skin care marketing, will become CMO of skin care, while Jurgen Scharfenstein, previously responsible for Coty Beauty adidas and lifestyle fragrance marketing, will serve as CMO of body care.
According to Coty, the reorganization will bring a more holistic view of the consumer and growth opportunities by product category, fueling innovation. The global effort, too, is expected to hone coordination and resource allocation between channels and markets as well as sharpen focus on consumer and retailer needs of each region.
In addition, the changes stand to eliminate duplication, foster operational efficiencies and accelerate profitable growth and generate more resources for investment in Coty's power brands and strategic markets, the company added.
"This evolved organization design will help us to advance our path to profitable growth," Coty chief executive officer Michele Scannavini said in a statement. "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."
On the regional side, Jean Mortier, president of Coty Prestige, will become president of global markets, which Coty said will enable the company to better leverage its worldwide scale and bolster sales execution.
Markets will be organized under four regions: North America, Europe, APAC/MEA and Latin America. Each will be led by a senior vice president and dedicated management teams. Leading the four regions will be Marc Rey for North America (also serving as Coty USA president), Stephane Tsassis for Europe, Peggy Elsrode for APAC/MEA and Manlio Pizzorni for Latin America.
Coty added that supply chain, finance, IT, human resources and legal functions will be reorganized to better support categories and regions.
Coty's roster of fragrance, skin care, color cosmetics, and body care products are sold in more than 130 countries and territories and include such brands as adidas, Calvin Klein, Chloé, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.