Coty CEO steps down and announces replacement

Camillo Pane, who has been at Coty’s helm for the last three years, has terminated his position due to family reasons

Camillo Pane

Coty’s CEO Camillo Pane has announced his resignation effective immediately due to family reasons.

The Università Bocconi graduate, Milan, has been at the beauty giant’s helm for the last three years and played an integral role in its integration with P&G Specialty Beauty Business.

He will be replaced by Continental Foods member of Board of Directors Pierre Laubies.

Laubies has previously worked with Jacobs Douwe Egberts, Ontex and CVC Capital Partners in a number of senior roles.

Commenting on Pane’s departure Coty’s former Chairman, Bart Becht, said: “We are very grateful for Camillo’s many contributions to Coty during his time as CEO.

“His leadership was critically important during Coty’s integration of the P&G Speciality Beauty Business.

“We are all very thankful for Camillo’s valued service, his exemplary leadership and his passion for beauty and Coty’s brands and people over the last years.”

Coty’s board has also announced a renewal process, and with it adding two new independent Board members, in an effort to bring new perspectives to the company.