Coty has added Olivier Goudet, partner / CEO of the Joh. A. Benckiser Group (JAB), to the company’s board of directors. JAB is a privately held group that owns and invests in premium brands; it is also Coty’s majority shareholder.

Goudet replaces Bernd Beetz, who stepped down from Coty’s Board to pursue other interests.

“We bid Bernd a fond farewell and wish him the best of luck in his new endeavors… We will miss his passion, energy and the many contributions he made to the Coty business throughout well over decade. We will miss his passion, energy and the many contributions he made to the Coty business throughout well over decade,” said Bart Becht, chairman, Coty’s Board of Directors.

Becht continued, “We are excited to add Olivier’s enormous talents and expertise to our board, and look forward to drawing on his wealth of knowledge and business experience, particularly with publicly traded consumer companies.”

Beetz remarked, “As I step down from Coty’s Board, and look back upon my past 11 years at Coty, I am proud to have been at the helm during this time in Coty’s history. I am full of enthusiasm as I begin a new chapter in my professional life, and wish everyone at Coty continued success!”