Coty has named an Interim CEO following Sue Nabi (pictured) exiting the business in December after five years with the Kylie Cosmetics-owner.
Nabi is succeeded by Markus Strobel, who became Interim CEO on 1 January 2026, as well as Executive Chairman of the board – replacing Peter Harf who has retired after 30 years.
Nabi has helmed Coty since July 2020 as the company’s first female and transgender CEO, taking over from Harf, who remained as Chair.
During this time, Nabi oversaw the launch of several hero fragrances, including Burberry Goddess.
Strobel joins Coty after a 33-year career at Procter & Gamble (P&G), where he most recently served as President of P&G’s Global Skin & Personal Care business.
Strobel will spearhead Coty’s strategic review of its Consumer Beauty business.
This involves a stronger focus on its colour cosmetics business, estimated to be worth US$1.2bn, which comprises brands CoverGirl, Rimmel London, Sally Hansen and Max Factor.
Strobel stated he sees “significant opportunity to reinforce Coty’s leadership in beauty and unlock multiple avenues for profitable growth and expansion”.
He continued: “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.”
Commenting on her departure in a LinkedIn post, Nabi stated she felt “proud and grateful for these five years, during which I gave more than my best”.
She continued: “I know that I may have been demanding at times, but my greatest pride is having built a diverse, competent and resilient team around the world.
“Since the first days of 2025, I knew this would be a very ‘special’ year, with all the events everyone is aware of.
“Given my resolute and principled personality, always focused on creating maximum value, I knew it would mark the end of something.
“Yet, the foundations we have built are extremely solid.
“I leave it to all Coty associates to carry this legacy forward, to continue building, competing fiercely, and leading with intuition and conviction.”
Although Nabi has not confirmed where she is headed next, in the LinkedIn post she mentioned she will return to what she “loves most”, focusing on “entrepreneurship, building from scratch, telling new stories, craftsmanship and a renewed sense of pride”.
Nabi began her beauty career at L’Oréal in 1993 and became the youngest-ever CEO of L’Oréal Paris.
She would go on to lead the French giant’s Lancôme brand for three years before co-founding the luxury genderless skin care brand Orveda in 2018.
Orveda recently opened its first-ever flagship location in Southeast Asia as it grows its global Maison network.
Nabi and Harf’s exit from Coty follows a lacklustre start to its 2026 financial year as beauty sales sank across the board.
Revenue in Q1 decreased by 6% to US$1.58bn on a reported basis, and 8% on a like-for-like basis.
Coty is also preparing to grapple with the loss of its Gucci licence, after Kering struck a deal to sell its beauty division to L’Oréal in October.
This includes the rights to enter into a 50-year exclusive license for the creation, development, and distribution of fragrance and beauty products for Gucci.
The licence change will commence after the expiration of the current license with Coty, Kering stated at the time the L’Oréal deal was announced.
In the wake of this, a subsidiary of Coty filed a lawsuit against Gucci and its owner, Kering, in November 2025.
(Photo Credit: Charles Helleu)
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