Michele Scannavini Out as Coty CEO

Coty Inc. said Monday that Michele Scannavini, chief executive officer, has stepped down for personal reasons and has resigned from the board of directors. Coty’s chairman Bart Becht will become interim CEO, working with Coty’s executive committee to ensure a smooth transition and oversee major decisions at the company. The firm plans to immediately begin a search for Scannavini’s permanent successor. Becht will remain chairman of the company once a permanent successor is named. “I want to thank Michele for his many contributions during his career at Coty,” said Becht. “Michele has been a material part and key contributor to Coty’s success over the past decade. We would like to thank him in particular for taking Coty public through a listing on the New York Stock Exchange and developing a clear strategy for Coty’s future.”

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