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Coty on Monday named Procter & Gamble veteran Markus Strobel as chairman and interim CEO, handing him the reins as the CoverGirl owner battles pressure on its mass-market business and a steep share-price slide.
Coty shares have fallen more than 50 percent this year as the company struggles to revive sales amid intensifying competition from newer beauty brands. Paris-listed shares were down about 5 percent on Monday, while U.S. shares were untraded before the bell.
Line chart showing Coty’s…
