Coty Enlists Markus Strobel as Interim CEO to Navigate Leadership Transition

Coty, recognized for its diverse beauty brands like CoverGirl and Gucci fragrances, has appointed Markus Strobel as the interim CEO. This change comes as the company, along with many other consumer goods firms, adapts its leadership to tackle a dip in demand and heightened competition.

Strobel, a seasoned veteran from Procter & Gamble, carries over three decades of expertise in the beauty, skincare, and personal care sectors. In addition to his role as interim CEO, he has been named executive chair, placing him in a pivotal position to steer Coty during this critical phase.

With a Master of Business Administration in marketing and finance from Indiana University’s Kelley School of Business, Strobel commenced his career at Procter & Gamble in 1991. He dedicated his entire professional life to P&G, contributing for 33 years across multiple regions and product categories.

Strobel initiated his journey in brand management and gradually advanced within the company. He successfully oversaw several key business units, including global fine fragrances and hair care operations in Latin America, allowing him to work closely with prestigious brands like Gucci, Dolce & Gabbana, and Valentino.

One of his standout achievements was during his leadership of SK-II, a premium skincare line owned by P&G. From 2012 to 2017, he addressed sales challenges in vital Asian markets, particularly China. His strategic approach centered on effective marketing, strong brand communication, and appealing to younger urban consumers with a preference for premium skincare. This revitalization led SK-II to emerge as a top-tier skincare brand in Asia.

In his final years at P&G, Strobel led the global skin and personal care branch, which includes widely recognized brands such as Pantene and Olay. He steered this division through critical pandemic challenges, managing supply chain issues and evolving consumer behaviors. Strobel retired from P&G in August 2024.

Coty is now leveraging Strobel’s extensive experience as it navigates a tough market where consumers are more budget-conscious and beauty brands are intensifying their competition for market share, particularly in the mass-market segment. With his profound insights into branding and global operations, Coty anticipates that Strobel will help stabilize the company and position it for sustainable growth.

Markus Strobel's appointment reflects Coty’s strategy of prioritizing experienced leadership during these unpredictable times. Although his role is temporary, his impressive background suggests he may significantly influence the company’s trajectory in the forthcoming months.