Coty Inc. is not about to get the new CEO they had announced several weeks ago, afterall. The company announced today that Bart Becht will remain as interim chief executive officer, as well as continue in his role as chairman of Coty.
 
Conumer products executive Elio Leoni Sceti, who had accepted the offer to assume the role of CEO in July, has apparently reconsidered and decided not to join Coty.
 
Peter Harf, director and chairman of the Remuneration and Nomination Committee of Coty commented, “After further discussion, the Coty Board of Directors determined that leadership continuity is critical in ensuring the continued success of Coty’s strategy implementation. We certainly understand Elio’s decision not to join Coty as planned, thank him for his professionalism throughout this process and we wish him all the best in his future endeavors.”