Beauty brand Coty has named Markus Strobel as executive chairman of the board and interim CEO.
The appointment will take effect on 1 January 2026.
Strobel arrives at Coty after more than three decades at Procter & Gamble (P&G), where he most recently headed the company’s global skin and personal care division as president.
Over his 33-year tenure, he held a series of senior posts across beauty & grooming, spanning fine fragrance, hair care and grooming.
At P&G, Strobel oversaw category and organisational changes within P&G Beauty and was involved in the repositioning of SK-II as a prestige skincare label in Asia.
His remit also extended to overseeing prestige fragrance licences including Gucci, Dolce & Gabbana, Valentino and Hugo Boss.
In these roles, he led work on innovation, product supply, marketing, go-to-market strategies and operating capabilities across markets such as North America, Greater China, Japan, Korea and Europe.
In his upcoming position as executive chairman and interim CEO, Strobel will steer Coty while the company conducts a strategic review of its Consumer Beauty division, backed by the board.
Commenting on his appointment, Strobel said: “I am delighted to join Coty at this important juncture. Building on Coty’s strong foundations, I see tremendous potential to accelerate growth, strengthen our position in prestige and mass beauty, and deliver sustainable value for shareholders, partners, and consumers worldwide.”
The appointment follows the planned departures of Peter Harf, who will retire from Coty’s board after more than 30 years, and Sue Nabi, who will step down as CEO after five years.
During Nabi’s tenure, Coty introduced several new fragrances, including Burberry Goddess, and reduced its financial net leverage to around 3x.
Coty is a beauty company founded in Paris in 1904, offering fragrance, cosmetics, and skin and body care brands sold in more than 120 countries.
Earlier this week, Coty agreed to dispose of its remaining 25.8% stake in professional haircare group Wella to investment funds and accounts managed by US investment firm KKR.
