Leadership transition signals a pivotal moment for the beauty group amid strategic shifts and portfolio recalibration
Sue Nabi is exiting Coty after a five-year tenure as chief executive officer, with Markus Strobel stepping in as interim CEO while also assuming the role of executive chairman of the board. Strobel succeeds Peter Harf, who will retire from Coty’s board after more than three decades. The announcement marks a significant leadership change at a moment of strategic reassessment for the beauty conglomerate, with shares dipping modestly in early trading following the news.
Strobel joins Coty after a 33-year career at Procter & Gamble, most recently serving as president of its global skin and personal care business. His background spans mass and prestige beauty, including oversight of fragrance assignments for houses such as Gucci, Dolce & Gabbana, Valentino, and Hugo Boss. “I am delighted to join Coty at this important juncture,” Strobel said. “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.”
Nabi’s departure comes as Coty navigates a complex period that includes the eventual expiration of its Gucci beauty license in 2028 and an ongoing strategic review of its mass color cosmetics and Brazil businesses. The company has also been actively reshaping its balance sheet, most recently selling its remaining stake in Wella. Together, the leadership transition and portfolio moves suggest a company recalibrating for its next chapter—one that will test how effectively Coty can translate operational change into renewed momentum.