In a season in which we are seeing big cosmetics companies reshuffling their top management, Wella has also announced a new CEO: Annie Young-Scrivner.
She will step down as CEO of Godiva Chocolatier at the end of November to take leadership of the newly formed Wella Company and other beauty brands including Clairol and OPI. As CEO, Young-Scrivner will report directly to Wella’s board of directors.
Annie Young-Scrivner has been CEO of Godiva for three years, leading an important expansion into new channels and categories, her action brought substantial results for Godiva: growth of the brand’s digital experience and increase of company’s social impact efforts to empower women. She had spent seven years in senior positions at Starbucks Corporation and held senior leadership roles in sales, marketing and general management during19 years at PepsiCo Inc.
The announcement came from the Investment firm KKR, which is acquiring 60% of Wella from Coty Inc. The plan aims to empower the Wella Company to operate as a separate entity with its own management team and operational structures. The new company will include the Wella Professional, Clairol, OPI, Nioxin and ghd brands, (valued at $4.3 billion). Coty will retain the remaining 40% of the company. Once the transaction is finalised, the Wella Company is expected to have an estimated 6,000 employees serving more than 250,000 hair and nail salons in 100 countries and serving consumers through its retail brands.
The current president of Coty’s professional and retail hair businesses, Sylvie Moreau, will remain in her role until the deal closes, expected to be at the end of this year. “Given Annie’s vast global experience in working with B2B and B2C businesses and her intuitive understanding of digital engagement in consumer-centric industries, we are confident she will help unlock the true potential of Wella’s portfolio,” said Nancy Ford, Managing Director at KKR, the American private equity business.