Iglo Foods' CEO Elio Leoni Sceti is American cosmetics group Coty's new CEO. His temporary predecessor Bart Brecht will step down in his favour, but will keep his position as chairman of the board.
"Elio’s significant experience and proven track record in building successful, global brands will be a tremendous asset to COTY as it continues to enhance its position in the Global Beauty industry", Brecht said. Coty is the cosmetics giant which owns perfumes from the likes of Adidas, Calvin Klein, Playboy, Madonna, Lady Gaga, David Beckham and many others.
The 49-year old Italian will have to create further growth for its entire portfolio, which not only includes perfumes, but also an ever-expansive line-up of cosmetics and beauty products. Coty is active in 130 countries worldwide and managed a 4.6 billion dollar (4.3 billion euro) turnover in its fiscal year 2013-2014.
Third tenure as CEO
Elio Leoni Sceti has been Iglo Foods' CEO since 2013. Under his guidance, the company (which was sold yesterday for 2.6 billion euro) introduced the 'Better Meals Together' strategy, which has helped the recovery of the group known for its Captain Iglo character.
It is the third time the Italian will become a CEO: prior to Iglo, he used to run EMI Music for two years. From 1988 to 1992, Sceti worked for Procter&Gamble, where he was one of the youngest brand managers ever. He then joined Reckitt Benckiser, where he would stay for another 16 years and rose the ranks to become the head of the European division. Sceti is also an independent manager at AB InBev and will stay on as a non-executive manager at Iglo.