Coty Promotes Industry Veteran Camillo Pane to CEO

By Tess Stynes 

Coty Inc. said Camillo Pane, an industry veteran with extensive experience in integrating acquisitions, was appointed as the beauty-products maker's new chief executive.

Mr. Pane is set to take the reins when Coty closes its roughly $13 billion deal for Procter & Gamble Co.'s beauty portfolio, expected in October.

He will succeed Bart Becht, who has served as CEO on an interim basis since September of 2014. Mr. Becht will continue to serve as the company's chairman and assist with the integration.

Since joining Coty a year ago, Mr. Pane has been responsible for developing the company's portfolio, category and brand strategies. The company said his successor as head of category development will be announced later.

Mr. Pane's experience includes a 20-year career with Reckitt Benckiser Group PLC, most recently as the head of the British consumer-goods company's global-health and personal-care business. Coty said Mr. Pane had a key role in the transformation of Reckitt Benckiser's consumer-health segment.

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(END) Dow Jones Newswires

July 21, 2016 08:39 ET (12:39 GMT)

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