UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 21, 2018
Coty Inc.
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 001-35964 | 13-3823358 | ||
|
(State or other Jurisdiction
of Incorporation) |
(Commission File Number) |
(I.R.S. Employer
Identification No.) |
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350 Fifth Avenue
New York, NY |
10118 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (212) 389-7300
(Former name or former address, if changed from last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Coty Inc. (NYSE: COTY) (“Coty”) today announced the resignation of Patrice de Talhouët, Executive Vice President and Global Chief Financial Officer of Coty. Mr. de Talhouët will remain CFO through mid September 2018 and assist with transition thereafter. Coty will retain an executive search firm to conduct a search for a successor.
Coty also announced today the appointment of Ayesha Zafar, Coty’s Senior Vice President, Group Controller, as interim Chief Financial Officer, effective September 15, 2018. Ms. Zafar, age 61, has served as Senior Vice President, Group Controller since May 2016. In this position, Ms. Zafar is Coty’s principal accounting officer and is responsible for Coty’s accounting operations and financial reporting. Prior to her appointment in May 2016, Ms. Zafar served as Vice President Controller of The Hertz Corporation since January 2013 and as its Controller from March 2012 to January 2013. Ms. Zafar brings 30 years of finance experience in multinational companies across consumer goods, pharmaceuticals and publishing, including Bristol-Myers Squibb, Campbell Soup Company, PepsiCo, Inc., Readers Digest, and Colgate-Palmolive Company. Ms. Zafar is a Certified Public Accountant and holds a Bachelor of Science degree in Accounting from Excelsior College.
A copy of the press release announcing Mr. de Talhouët’s departure and Ms. Zafar’s appointment is attached to this Current Report on Form 8-K as Exhibit 99.1. A copy of the press release is also available on its website at www.investors.coty.com, under the “Investor News” tab.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
| Exhibit No. | Description | ||
| 99.1 | Press release regarding executive departure, dated August 21, 2018. | ||
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Coty Inc. | |||
| (Registrant) | |||
| Date: August 21, 2018 | By: | /s/ Greerson G. McMullen | |
| Greerson G. McMullen | |||
| Chief Legal Officer, General Counsel and Secretary | |||
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EXHIBIT INDEX
| Exhibit No. | Description | ||
| 99.1 | Press release regarding executive departure, dated August 21, 2018 | ||
Exhibit 99.1
Coty Announces Chief Financial Officer Transition
NEW YORK - August 21, 2018 - Coty Inc. (NYSE: COTY) (“Coty”) today announced the resignation of Patrice de Talhouët, Executive Vice President and Global Chief Financial Officer, who is leaving Coty to pursue other opportunities. Patrice will remain CFO through mid September 2018 and assist with transition thereafter. Coty is retaining an executive search firm to conduct a search for a successor.
Camillo Pane, Chief Executive Officer of Coty, said: “Patrice has made a significant contribution to Coty during his time as CFO and has been a valuable partner to me for almost two years. I am thankful for his valued service and personal commitment. His leadership was especially important during Coty’s integration of the P&G Specialty Beauty Business, which is now largely complete. We will work together through a transition period as we commence our executive search for his successor.”
Bart Becht, Chairman of the Coty Board of Directors, said: “Patrice has been an important part of this organization since joining the company shortly after our initial public offering. Not only was Patrice a major driver in transitioning Coty to a publicly traded company, but his dynamic leadership also played a vital role in completing the P&G Specialty Beauty acquisition, which marked a strategic transformation for Coty. I am appreciative for Patrice’s many contributions to the company and wish him well in his future endeavors.”
Ayesha Zafar, Coty’s Senior Vice President, Group Controller, will serve as the interim Chief Financial Officer effective September 15, 2018. Ayesha has been responsible for accounting operations and financial reporting, including as Coty’s principal accounting officer, for more than two years and she brings 30 years of finance experience across several multinational consumer goods and pharmaceuticals companies, including The Hertz Corporation, Bristol-Myers Squibb, Campbell Soup Company, PepsiCo, Inc., and Colgate-Palmolive Company.
About Coty Inc.
Coty is one of the world’s largest beauty companies with over $9 billion in revenue and a purpose to celebrate and liberate the diversity of consumers’ beauty. Its strong entrepreneurial heritage has created an iconic portfolio of leading beauty brands. Coty is the global leader in fragrance, a strong number two in professional salon hair color & styling, and number three in color cosmetics. Coty operates three divisions – Coty Consumer Beauty, which is focused on color cosmetics, retail hair coloring and styling products, body care and mass fragrances sold primarily in the mass retail channels with brands such as Bourjois, Max Factor, Rimmel, Wella, Adidas and Guess; Coty Luxury, which is focused on prestige fragrances and skincare with brands such as Gucci, Hugo Boss, Calvin Klein, Chloe, Bottega Veneta and Alexander McQueen; and Coty Professional Beauty, which is focused on servicing salon owners and professionals in both hair and nail, with brands such as Wella Professionals, System Professional, OPI and ghd. Coty has approximately 20,000 colleagues globally and its products are sold in over 130 countries. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment. For additional information about Coty Inc., please visit www.coty.com .
Contacts
Investor Relations
Christina Frank
212-389-7300
christina_frank@cotyinc.com
Media Relations
Jennifer Friedman
917-754-8399
Jennifer_Friedman@cotyinc.com