Coty announced December 22 that CEO Sue Nabi will step down. Former Procter & Gamble executive Markus Strobel will serve as interim CEO and Executive Chair starting January 1, 2026. Strobel, who led P&G’s global skin and personal care business, has 33 years at the company, overseeing Gucci and Hugo Boss fragrances and building SK-II into a leading Asian skincare label. The change marks the departure of long-time board member Peter Harf. The transition comes as Coty reviews its mass cosmetics segment and Brazilian operations. Q3 revenue reached $1.58 billion, down 6% YoY, with adjusted EBITDA falling 18% to $296 million.