Coty has appointed five new independent directors as part of a governance overhaul. The new board members include Carsten Fischer (former president of Rea.deeming Beauty), Alia Gogi (former president of Sephora Asia), Robert Kunze-Concewitz (former CEO of Campari Group), Maria Carla Liuni (chief brand officer at Ferrari), and Stephanie Plaines (former global CFO of Jones Lang LaSalle). Three existing directors stepped down, with Robert Singer set to exit June 30. Interim CEO Markus Strobel remains as executive chairman. The reshuffle comes amid declining sales and intensifying competition from rivals including L’Oréal, with shares down more than 30% year-to-date.

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