Coty Inc. Appoints Patrice de Talhouet As Chief Financial Officer
-- Senior Finance Executive of Mars, Inc., Will Join the Global Beauty Company early 2014
NEW YORK, Dec. 3, 2013 /PRNewswire/ -- Leading global beauty company Coty Inc. (NYSE: COTY) announced today the appointment of Patrice de Talhouet as CFO effective early 2014. He will replace Sergio Pedreiro who will stay on at Coty through March 2014 to provide a seamless transition for Mr. de Talhouet, as well as to complete Coty's Fiscal 2014 second quarter earnings release.
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As Corporate Finance Officer Americas and a member of the finance executive committee for Mars, Inc., Mr. de Talhouet, among other things, successfully led a multiple year program to transform the global Finance function for the company, oversaw governance and compliance in the region, and was Dean of Mars University for Finance. The five years prior he served as CFO Europe for Mars Global Chocolate. Before joining Mars, Inc., Mr. de Talhouet spent more than a decade in senior finance positions for Alcatel-Lucent, gaining deep financial expertise and co-piloting skills with global corporations both in Europe and the Americas. He started his career at Societe Generale bank where he spent four years.
He holds Bachelor Degrees in Economics and International Management as well as a Master's Degree in Finance, Accounting and Corporate Law.
"I am very excited to welcome Patrice as Coty's new CFO. Patrice has a deep, well rounded profile and a proven, successful track record in leading large financial operations with premier multinational corporations," said Michele Scannavini, CEO, Coty Inc. "He will be a strong addition to our Executive Team."
Mr. Pedreiro joined Coty during the 2009 global financial crisis and implemented a strategy that brought solid contributions to Coty's earnings improvement and margin expansion.. Mr. Pedreiro also strengthened governance and compliance, including the implementation of SOX, all of which was instrumental in guiding Coty to the public markets in June 2013.
"Along with Coty's Executive Team, I would like to acknowledge Sergio's many talents and thank him for his contributions to our profitable growth achieved over the past five years. We very much appreciated his business acumen along with his unique interpersonal skills. He will be missed and we wish him all the best for the future," continued Scannavini.
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.6 billion for the fiscal year ended June 30, 2013. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty's product offerings include such global brands as adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.
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