Overview
- Strobel will take the dual roles on January 1, 2026 as Sue Nabi exits and longtime director Peter Harf retires.
- The Procter & Gamble veteran spent 33 years at the company, led global skin and personal care, and is credited with revitalizing SK-II and overseeing prestige fragrance licenses including Gucci.
- He will steer a board-supported strategic review of Consumer Beauty with options under consideration that include partnerships, divestitures or spin-offs, as reported.
- Coty recently agreed to sell its remaining 25.8% stake in Wella to KKR for $750 million upfront plus 45% of future proceeds, with cash earmarked to pay down debt and keep net leverage near 3x.
- The reset follows weakening performance and market pressure—Coty reported a fiscal 2024/25 net loss, a softer first quarter, and a share price drop of over 50% this year—alongside the scheduled loss of the Gucci license in 2028.