Cosmetics giant Coty has promoted Stéphane Delbos to the position of Chief Procurement Officer as it continues with its turnaround plan.
He joined the business in 2010 as Global Sourcing Director but is currently working as Senior VP for Transformation, Indirect and Procurement Operations. In his new role, Delbos will join Coty’s senior leadership team and will report to Gordon von Bretten, Coty’s Chief Transformation Officer.
He will be responsible for implementing Coty’s multi-year procurement strategy, which includes reducing costs and complexity, and strengthening Coty’s product line-up with innovation from external suppliers.
This forms part of Coty’s ‘transformation programme’ announced last year which is targeting a net reduction in costs of $600m by the end of 2023 and more cost-effective and integrated operations.
Delbos has over 18 years’ experience in the beauty and pharmaceutical industries. Prior to joining Coty, he held several local and global procurement positions at Pfizer and Ipsen.
Von Bretten said: “Stéphane’s diverse experience and proven track record over 10 years at Coty make him a great addition to Coty’s senior leadership team. He has a deep understanding of how this company works and has been integral to progressing our financial transformation and successfully navigating the challenges of COVID-19.
“I look forward to continue working with him closely as we transform Coty into a true beauty powerhouse that’s stronger, more focused and set up for long-term profitable growth.”
Like other beauty firms, Coty has been hit hard by the pandemic, although figures towards to end of last year suggested demand for its products was recovering.
In December, the company completed of the sale of a majority stake in its Professional and Retail Hair business – including the Wella, Clairol, OPI and ghd brands (together ‘Wella’) – to private equity giant KKR. The deal was part of Coty’s drive to cut debt and simplify its structure.
