After more than three decades at Procter & Gamble, Markus Strobel steps into one of the beauty industry’s most closely watched leadership roles. From January 2026, he will assume the dual position of Executive Chairman and Interim Chief Executive Officer at Coty Inc., bringing deep operational experience and a track record of brand-building at global scale.
Strobel’s appointment comes at a pivotal moment for Coty. The group operates across prestige and mass beauty, with a portfolio that spans fragrance, colour cosmetics and skin and body care, reaching consumers in more than 120 markets worldwide. As the industry continues to evolve, shaped by shifting consumer habits, digital commerce and intensifying competition, Coty is sharpening its focus on where it can grow most profitably.
This leadership transition also marks the close of two notable tenures. Peter Harf retires from the board after more than 30 years, during which he played a central role in shaping Coty’s position as a global beauty player. Sue Nabi steps down following five years as Chief Executive Officer, having overseen a period of stabilisation, successful fragrance launches and a meaningful reduction in the company’s financial leverage.
A career built inside global beauty
Strobel arrives with a rare breadth of experience across categories, regions and price points. During 33 years at Procter & Gamble, he held senior leadership roles across beauty and grooming, most recently as President of Global Skin & Personal Care. In that role, he oversaw a multi-billion-dollar portfolio spanning more than a dozen global brands.
Among his most recognised achievements is the transformation of SK-II into one of the world’s leading prestige skincare brands, particularly across Asian markets. Under his leadership, the brand strengthened its cultural relevance, sharpened its innovation pipeline and expanded its footprint in key markets including Japan, China and Korea.
His experience also extends deeply into fine fragrance. Strobel has led prestige fragrance portfolios including Gucci, Dolce & Gabbana, Valentino and Hugo Boss, managing complex licensed partnerships while maintaining brand integrity and commercial performance. Across hair care, grooming and fragrance, his focus has consistently been on modernising how brands innovate, communicate and go to market.
Geographically, his career has spanned North America, Europe and Asia, giving him first-hand experience of both mature and high-growth markets. That global perspective will be particularly relevant as Coty continues to balance scale with local relevance.
Building on recent momentum
Founded in Paris in 1904, Coty has long occupied a unique position at the intersection of prestige and mass beauty. That dual exposure offers opportunity, but it also demands discipline, particularly as consumer expectations evolve and retail channels fragment.
In recent years, the company has shown encouraging signs of momentum, especially within prestige fragrance. Launches such as Burberry Goddess have resonated strongly with consumers, reinforcing Coty’s ability to develop products that feel both commercially compelling and true to brand. At the same time, the business has strengthened its financial footing. Net leverage has been reduced to around three times, improving balance-sheet flexibility and creating room for more deliberate investment in growth, innovation and operational capability.
It is against this backdrop that Strobel takes on the role, alongside an ongoing strategic review of the Consumer Beauty division. While details remain to be confirmed, the review signals a clear intention to sharpen focus and ensure resources are aligned with the strongest opportunities.
“Building on 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,”
Markus Strobel, Executive Chairman and Interim CEO, Coty
The beauty sector is undergoing structural change. Social platforms increasingly shape discovery and demand. Direct-to-consumer models sit alongside traditional retail. Consumers expect faster innovation, clearer values and greater authenticity from brands they buy into.
A moment of transition
The decision to combine the roles of Executive Chairman and Interim CEO reflects the board’s desire for clarity and momentum during this period of transition. It allows for tighter alignment between strategy and execution as the company reviews its portfolio and priorities.