Coty Restructures Consumer Beauty Leadership Team

Coty Inc. is restructuring the leadership team of its Consumer Beauty division. Mike Bryce, Mark Cooper and Ukonwa Ojo have been promoted to the new roles of global chief marketing officer, each overseeing a different segment of the business — Color Cosmetics, Retail Hair and Body Care; Lifestyle Scenting, and Cover Girl and Sally Hansen. All three executives will report to Laurent Kleitman, president of Consumer Beauty. While its luxury and professional divisions have recently posted significant increases, Coty’s Consumer Beauty division has struggled to gain its footing following the 2015 acquisition of Procter & Gamble’s specialty beauty business, including brands such as Cover Girl, Clairol, Wella and Max Factor. Consumer Beauty showed slight improvement in the second quarter of 2018, posting 14 percent year-on-year growth, to $1.1 billion — though 11.1 percent of that growth was attributed to Younique, the social selling business in which Coty bought a 60 percent stake in January 2017. Declines in the Consumer Beauty division have been linked to softness in the U.S. mass market, offset partially by strong sales from Wella Retail, Max Factor and Monage. Loss of shelf space for mass legacy brands is another issue — Ulta Beauty confirmed last week that Rimmel has exited

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