Coty names Richard Jones as global chief supply officer
New York-based cosmetics company Coty Inc. has named Richard Jones as its new global chief supply officer, as well as a member of the company’s executive committee, effective November 1.
In the new role, Jones will oversee manufacturing, planning, logistics and distribution, while procurement will remain a separate dedicated organization, the company said.
He will report to Pierre Laubies, Coty chief executive officer, and will be based in Amsterdam.
Jones brings 30 years of operations and supply chain experience to the role, most recently serving as chief supply chain officer and an executive committee member for Keurig.
While performing the role, he was responsible for global product supply and oversaw the quality, safety, and environmental management of Keurig’s manufacturing processes. Prior to Keurig, Jones spent 18 years at L’Oréal, in progressive operations, manufacturing and supply chain roles supporting all beauty categories. He began his work in supply chain with Unilever.
“We are glad to welcome [Jones] to our team and his experience, notably in beauty, will be key to the progress of our company’s evolution,” said Laubies. “[This] appointment is an important step in supporting our ongoing transformation and our strategic roadmap for future growth. Reducing complexity and costs will drive operational leadership and unlock opportunities for reinvestment and profit expansion.”
The appointment follows Coty’s addition of Jimmy Choo Group Limited CEO Pierre Denis and Russel Reynolds Associates’ Beatrice Ballini to its board of directors in September.
The cosmetics company, whose portfolio includes brands like Covergirl, Rimmel London and Sally Hansen, is continuing to build on a multi-year turnaround plan first announced in July that involves cost cuts and increased investment in advertising.
After raising its annual revenue forecast in August, the company announced in October that it is considering the sale of its professional beauty division and associated hair brands, as well as its operations in Brazil. According to the company, any funds resulting from a sale would be used to pay down debt, with excess cash going directly to shareholders.
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