NEW YORK--(BUSINESS WIRE)--Coty Inc. (NYSE:COTY) today announced that Ralph Macchio, Chief Scientific Officer and Senior Vice President of Global Research & Development, will retire from Coty after a distinguished 25 years with the company. The retirement has been in the pipeline for a couple of years, but Ralph agreed to postpone it until after the merger and integration with P&G Beauty Business was well advanced.
Camillo Pane, Coty’s CEO, said, “Ralph has been an amazing R&D leader in the beauty industry and retires after a truly distinguished career. He has developed many iconic products over the years, pioneered radical and breakthrough technologies and authored numerous patents. These include our highly successful Sally Hansen Miracle Gel, one of the biggest nail successes in beauty, having won 34 awards, and Rimmel Lash Accelerator Mascara, proven to help grow lashes, to name just two. My many thanks, and those of our Board and Executive Committee members, and all his colleagues at Coty go to Ralph for his leadership, commitment, drive and passion for our business, and for the expertise he has brought. We wish him a great retirement.”
A successor will be announced in the near future.
Ralph will leave Coty on June 30, 2017. During the interim period, the R&D team will report to the CEO.
About Coty Inc.
Coty is one of the world’s largest beauty companies with approximately $9 billion in revenue, with a purpose to celebrate and liberate the diversity of consumers’ beauty. Its strong entrepreneurial heritage has created an iconic portfolio of leading beauty brands. Coty is the global leader in fragrance, a strong number two in professional salon hair color & styling, and number three in color cosmetics. Coty operates three divisions – Coty Consumer Beauty, which is focused on color cosmetics, retail hair coloring and styling products, body care and mass fragrances sold primarily in the mass retail channels with brands such as COVERGIRL, Max Factor and Rimmel; Coty Luxury, which is focused on prestige fragrances and skincare with brands such as Calvin Klein, Marc Jacobs, Hugo Boss, Gucci and philosophy; and Coty Professional Beauty, which is focused on servicing salon owners and professionals in both hair and nail, with brands such as Wella Professionals, Sebastian Professional, OPI and ghd. Coty has approximately 20,000 colleagues globally and its products are sold in over 130 countries. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment.
For additional information about Coty Inc., please visit www.coty.com.