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While working for the company as Deputy CFO since 2017, Laurent Mercier has just been appointed CFO of Coty. In this capacity, he will join the firm’s Executive Committee and will report directly to the Group’s Chief Executive Officer, Sue Y. Nabi.
According to the Chief Executive Officer, “Mercier is a very capable leader who has played a key role in Coty’s financial transformation, in an extremely challenging operating environment, building a stronger, more focused and upscale company, set up for profitable growth.” To that, Sue Y. Nabi added that Mr. Mercier “knows this company inside out and has been instrumental in recent months in allocating resources and marketing investments to the most promising opportunities. He brings a wealth of international experience, gained both here at Coty and in high-profile management positions at Danone.”
Indeed, it was after spending 20 years with the food multinational that Laurent Mercier began his career at Coty. There, the future CFO increased operating income by more than 50% in two years, while maintaining constant sales growth.
The announcement of Mercier’s promotion follows the sale, at the end of November, of a majority share of Coty’s professional and retail hairdressing business – including the Wella, Clairol, OPI and GHD brands – to KKR, a private investment company. This sale was supervised by Pierre-André Terisse, from whom Laurent Mercier takes over.
Pierre-André Terisse worked closely with Laurent Mercier at both Coty and Danone. The former CFO will therefore assist Mr. Mercier’s transition until February 15, 2021, when he will officially take up his position. Pierre-André Terisse has been appointed by Coty to become a member of Wella’s Board of Directors. “I would like to thank my long-time colleague, Pierre-André, for all he has accomplished. I look forward to building on his legacy and developing this fantastic company for many years to come”, said Mr. Mercier.
As CFO, he will continue to lead Coty’s turnaround program with Gordon von Bretten – Coty’s Director of Transformation – in charge of executing a $600 million fixed cost reduction program. Laurent Mercier said, “As a company, we are 100% focused on cost due diligence and on driving sustainable sales growth, and we will continue to deliver on our financial commitments.”
To do so, Coti has strengthened its management team. In particular, the company has recruited Isabelle Bonfanti as sales director for luxury goods, while Jean-Denis Mariani will take on the position of digital director.
Read also > COTY STRENGTHENS ITS CONSUMER BEAUTY BUSINESS AND CALLS ON SENIOR TALENTS
Featured Photo : © Coty[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
While working for the company as Deputy CFO since 2017, Laurent Mercier has just been appointed CFO of Coty. In this capacity, he will join the firm’s Executive Committee and will report directly to the Group’s Chief Executive Officer, Sue Y. Nabi.
According to the Chief Executive Officer, “Mercier is a very capable leader who has played a key role in Coty’s financial transformation, in an extremely challenging operating environment, building a stronger, more focused and upscale company, set up for profitable growth.” To that, Sue Y. Nabi added that Mr. Mercier “knows this company inside out and has been instrumental in recent months in allocating resources and marketing investments to the most promising opportunities. He brings a wealth of international experience, gained both here at Coty and in high-profile management positions at Danone.”
Indeed, it was after spending 20 years with the food multinational that Laurent Mercier began his career at Coty. There, the future CFO increased operating income by more than 50% in two years, while maintaining constant sales growth.
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While working for the company as Deputy CFO since 2017, Laurent Mercier has just been appointed CFO of Coty. In this capacity, he will join the firm’s Executive Committee and will report directly to the Group’s Chief Executive Officer, Sue Y. Nabi.
According to the Chief Executive Officer, “Mercier is a very capable leader who has played a key role in Coty’s financial transformation, in an extremely challenging operating environment, building a stronger, more focused and upscale company, set up for profitable growth.” To that, Sue Y. Nabi added that Mr. Mercier “knows this company inside out and has been instrumental in recent months in allocating resources and marketing investments to the most promising opportunities. He brings a wealth of international experience, gained both here at Coty and in high-profile management positions at Danone.”
Indeed, it was after spending 20 years with the food multinational that Laurent Mercier began his career at Coty. There, the future CFO increased operating income by more than 50% in two years, while maintaining constant sales growth.
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