Dec 22 (Reuters) – Coty on Monday named Procter & Gamble veteran Markus Strobel interim CEO, replacing Sue Nabi, as the CoverGirl parent became the latest in a string of retailers and consumer goods companies refreshing their C-suites this year.
Strobel, who was also named the beauty company’s executive chair, takes charge as Coty navigates a choppy consumer environment and stiff competition to revive demand at its mass-market beauty brands.
Here are a few facts about Coty’s new interim CEO:
EDUCATION:
Strobel holds a Master of Business Administration (MBA) in Marketing & Finance from Indiana University’s Kelley School of Business, according to his LinkedIn profile. He graduated in 1991.
EARLY DAYS AT P&G:
Strobel joined P&G in 1991 out of college and stayed at the consumer goods bellwether for 33 years.
He started off in the brand management division, and went on to be managing director and general manager at businesses such as global fine fragrances and luxury fragrances and Latin America hair care.
He worked with prestige fragrance labels including Gucci, Dolce & Gabbana, Valentino and Hugo Boss.
SK-II DAYS AT P&G
Coty on Monday also credited Strobel with “revitalizing” SK‑II into a leading prestige skincare brand in Asia. He was general manager of the global SK-II division from September 2012 to June 2017.
The brand had gone through periods of sales disruption and demand weakness in its biggest Asian growth market, and key geographies such as China.
As global president of P&G’s SK‑II, Markus Strobel helped engineer a turnaround of the prestige skincare label in Asia by focusing on sharper marketing strategies aimed at urban Millennial consumers and their interest in high-end skincare.
RECENT TIMES AT P&G:
From 2017 to 2024, Strobel led P&G’s global skin & personal care business, which includes a portfolio of brands such as Pantene, Old Spice and Olay. He was in charge of the business during the pandemic years and retired in August 2024.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Anil D’Silva)
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