Coty announced on Thursday the appointment of KKR executive Gordon von Bretten as chief transformation officer.
In this role, Bretten will assist Coty leadership in accelerating and amplifying the transformational journey the company has started in recent months.
Bretten has previously served in a variety of leadership roles in management consulting, mostly with turn-around expert AlixPartners, as well as A.T. Kearney, focusing on restructuring and performance improvement. He notably drove operational turn-around under PE ownership at KlöcknerPentaplast.
Most recently, he spent the last five years as an operating partner with KKR Capstone, the in-house operating team of KKR, focusing on corporate carve-out and value creation across the KKR portfolio.
The CTO appointment follows plans announced earlier this month for Coty to sell a majority stake in its hair and nail care brands, including Wella and OPI, to U.S. buyout firm KKR & Co Inc for $3 billion.
Coty has been struggling with slowing sales and mounting debt in recent years, which has been amplified due to the coronavirus crisis.
In an effort to revitalize its sales, the company also bought a majority stake in Kylie Jenner's make-up and skincare businesses late last year.
Coty’s products are sold in over 150 countries around the world.
Its iconic portfolio of brands is built across fragrance, color cosmetics, hair color and styling, and skin and body care.