On December 22, U.S. beauty giant Coty Inc. announced that it will appoint Markus Strobel as Executive Chairman of the Board and Interim Chief Executive Officer, effective January 1, 2026. As the company conducts a strategic review of its Consumer Beauty business, Coty is positioning itself to enter its next phase of growth under a new leadership structure.
Strobel is a highly regarded industry veteran who spent 33 years at Procter & Gamble (P&G). Most recently, he served as President of P&G’s Global Skin & Personal Care business, overseeing a multi-billion-dollar portfolio spanning more than 12 global brands. He is widely recognized for driving organizational and category transformation within P&G Beauty and for revitalizing SK-II into one of Asia’s leading prestige skincare brands.
Throughout his career, Strobel has held senior leadership roles across Beauty & Grooming, spanning fine fragrance, hair care, and grooming. In the fragrance category, he led several prestige brands, including Gucci, Dolce & Gabbana, Valentino, and Hugo Boss. He also spearheaded the modernization of innovation, product supply, marketing, go-to-market strategies, and operating capabilities across North America, Greater China, Japan, Korea, and Europe.
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.”
Ahead of the official announcement, reports had emerged in mid-December speculating on the possible departure of former CEO Sue Nabi. Nabi became Coty’s first female and transgender CEO in July 2020, during which time she led efforts to reshape the company’s brand portfolio, launch blockbuster fragrances, and strengthen its financial position.
At the same time, Coty has faced a number of structural challenges, including a slower start to fiscal year 2026 and the anticipated future loss of its Gucci beauty license. While the company had previously declined to comment on speculation, stating that it does not respond to rumors, the December 22 announcement confirmed Nabi’s departure and the transition to a new leadership structure.
As part of the leadership change, Peter Harf, who has chaired Coty’s board for more than three decades, will also step down. Harf played a central role in building Coty into a global beauty company, while Nabi oversaw the launch of major fragrance successes such as Burberry Goddess and contributed significantly to improving the company’s financial health.
For Coty, which operates across both prestige and mass beauty segments, this leadership transition represents more than a routine executive change. It marks a pivotal moment as the company redefines its business portfolio and pursues a more sustainable and profitable growth model—one in which Markus Strobel’s leadership is expected to play a decisive role.
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