After 16 years in his role of CEO, Paolo Braguzzi will cede his position to Anthony Molet, who is currently North America CEO. The handover is due to take place in May 2021.
The Davines Group has announced a succession plan for the position of CEO and Managing Director. The group Chair, Davide Bollati, has announced that after a long and brilliant career in the international cosmetics industry, Paolo Braguzzi will step down in May 2021, while still maintaining his position as a member of the board. He was named ‘Alumni of the year’ in 2019 by Verona University, where he graduated in Economics. His professional career started in consumer marketing, progressing to the role of Division Manager and then General Manager of the Italian branch of a multinational company in the professional beauty industry. In the last sixteen years spent at Davines Group, Paolo Braguzzi has contributed to the growth of its brands (Davines, haircare, and Comfort Zone, skincare) and to its reputation worldwide, implementing its transformation into a B Corp in 2016, and a Benefit Corporation in 2019. When he joined the Group in 2004, Davines’ turnover was €27m: 2019’s turnover reached €163m, making Davines today one of the most relevant and top-performing cosmetics companies in the Italian landscape, and a significant player on the global beauty scene. “My experience at the Davines Group has allowed me to implement the business vision I have always believed in,” comments Paolo Braguzzi. “The company’ has completed a full circle with complete success, by achieving a positive impact on both people and the planet”.
Anthony Molet, currently Davines North America CEO, and who will become Group CEO from May 2021, graduated from ESLSCA Business School, a Grande École de Commerce in
Paris. He then joined the New York subsidiary of a French family-owned company, manufacturing high-end hair and skin care products, rapidly progressing to the role of Sales Director first for their Salon and then Retail divisions, which also earned him the title of Executive Vice President. In 2008, Anthony joined Davines North America as CEO. During his thirteen-year tenure, Anthony implemented structure and continuity, resulting in steady growth that made North America a key market for the Davines Group.
“I believe that it is increasingly the responsibility of companies to educate consumers and influence their behaviour towards a more sustainable world,” says Anthony Molet. “What I find so compelling about Davines is that it has the power to impact people, just like it did to me. Over the years Paolo Braguzzi paved a path for the company with a perfect balance between values, quality products and financial health, and I am looking forward to continuing this journey.”
His choice as CEO confirms Chair Davide Bollati and the Board of Directors’ intention to continue the Group on a path of sustainable growth, based on the solid ethical principles of this 100% family-owned Italian company.
“First of all, I would like to thank Paolo for the wonderful work he did for the company in these sixteen years” says Davide Bollati. “His ethical and organizational leadership, his personal and professional integrity, and his consistent commitment, not only led the Group to successful achievements in terms of financial results but also significantly contributed to the company’s sustainabilityculture and to building a sustainability-driven, resilient community, which has been able to come together also in disruptive times like the ones we are all going through.
I would also like to welcome Anthony – already part of our enlarged Davines family, whose successful endeavours in the North American market (our first one in terms of turnover and potential) are well known and celebrated. I am confident both in his professional capacity and in his personal commitment to guide the Group, in harmony with our values and in evolution as the present times strongly require. My warmest wishes go to Paolo and Anthony”.
The period leading to the succession next May will give Paolo Braguzzi time to oversee this transition and hand over to Anthony Molet, while at the same time managing a similar transition to a new GM (still to be appointed) for Davines North America.