Coty Inc. Announces Executive Leadership Change

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Posted on 31 August, 2014

Coty Inc. (NYSE: COTY) today announced that Chief Executive Officer Michele Scannavini has stepped down from his role at the company for personal reasons and resigned from Coty's Board of Directors. Coty's Chairman Bart Becht will become interim CEO, working with Coty's Executive Committee to ensure a smooth transition and oversee major decisions at the company. The company intends to commence a search process for Mr. Scannavini's permanent successor immediately. Mr. Becht will remain as Chairman of the company once a permanent successor has been appointed.

"I want to thank Michele for his many contributions during his career at Coty," said Mr. Becht. "Michele has been a material part and key contributor to Coty's success over the past decade. We would like to thank him in particular for taking Coty public through a listing on the New York Stock Exchange and developing a clear strategy for Coty's future. We will miss Michele's professionalism and humanity; we wish him the very best as he moves on to the next phase of his career."

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