New CPO appointed at Coty as it targets $600m savings

27 January 2021

Beauty giant Coty has appointed Stéphane Delbos as CPO as the firm looks to save $600m by 2023. 

Delbos has been promoted from his current role as senior vice president for transformation, indirect and procurement operations, where he played an integral role in driving forward the firm’s broader transformation agenda, the firm said. 

Delbos, who joined Coty as global sourcing director in 2010, has over 18 years’ experience in procurement in the beauty and pharmaceuticals sectors. Prior to joining Coty, he held roles at Pfizer and Ipsen.

As CPO, Delbos will be responsible for implementing Coty’s multi-year procurement strategy, which includes achieving a significant cost reduction target by 2023. He will also be tasked with reducing complexity and strengthening the new product pipeline as part of Coty’s transformation programme.  

As part of the programme, Coty is targeting a net reduction in costs of $600m by the end of 2023 as well as delivering “more cost-effective and integrated operations”. 

In its quarter one earnings, Coty reported progress towards these cost reduction targets, delivering $80m savings in the first quarter against a target of over $200m by end of the 2021 financial year.

Gordon von Bretten, Coty’s chief transformation officer, said: “Stéphane’s diverse experience and proven track record over 10 years at Coty make him a great addition to Coty’s senior leadership team. He has a deep understanding of how this company works and has been integral to progressing our financial transformation and successfully navigating the challenges of Covid-19. 

“I look forward to continuing working with him closely as we transform Coty into a true beauty powerhouse that’s stronger, more focused and set up for long-term profitable growth.”

Separately, Roberto Canevari will assume the role of executive vice president, global supply chain at beauty firm Estée Lauder, following the retirement of Gregory Polcer.

Polcer is set to leave Estée Lauder on 1 July, while Canevari will join the company on 1 May from Unilever where he was the executive vice president of supply chain for Europe.

Canevari will oversee the company’s global supply chain operations, including end-to-end procurement, manufacturing, planning, quality assurance and logistics. He will also be responsible for driving innovation and strengthening and evolving relationships with suppliers, “prioritising safety, sustainability, and responsible sourcing”. 

Meanwhile in the automotive sector, Michelle Wen has been appointed chief global purchasing and supply chain officer at the newly-formed automotive group Stellantis, following the merger of Fiat-Chrysler and Groupe PSA.

Wen was previously executive vice president of global purchasing and supplier quality at Groupe PSA.

And US-based Bristol Seafood has appointed Rick Espindola as vice president of procurement. Espindola has joined from Superior Seafood Solutions, where he was managing director for over two years. 

Espindola said: “Bristol is a socially responsible company focused on producing premium, sustainable seafood, and it starts at the source. I look forward to contributing towards Bristol’s mission to make seafood America’s favorite protein.”

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