Bernd Beetz Named New Coty Inc. CEO

Bernd Beetz will succeed Peter Harf as chief executive officer of Coty, Inc, the company announced today. Mr. Beetz comes to Coty with extensive experience in the beauty industry, successfully integrating and developing businesses on a global level. Mr. Harf continues at Coty in his role as the company’s chairman. Mr. Beetz will take over his responsibilities effective May 1, 2001.

“I am delighted to have someone of Bernd’s caliber to take Coty to the next level,” said Mr. Harf. “We were searching for someone with proven leadership capability, proven experience in the beauty business and proven operational success and he meets these criteria with a remarkable track record. While I’m relinquishing my responsibilities as CEO, I will continue to work closely with the board and shareholders and will offer my advice on Coty’s strategy when needed to help Coty achieve its promising potential.”

Mr. Beetz previously served as president and CEO of Parfums Christian Dior France for more than two years and relaunched the business and organization under a new strategy with major success with a turnover increase of over 40%. Before Dior, Mr. Beetz spent more than 20 years at Procter and Gamble maintaining a strong record of success. During his tenure at P&G he served in a division manager capacity with category and geographic responsibility for the European paper tissue/towel/cotton business and European health and beauty business. He also held the position of general manager for the P&G operations in Germany, Italy, Turkey and Switzerland.

Mr. Beetz carried out his previous functions in Paris, Frankfurt, London, Istanbul and Geneva. In his new position, he will be based in New York.

“This is a very exciting time to take the reins of a great company,” said Bernd Beetz. “I feel privileged to be leading Coty into the future. My goal is to be a strong leader for Coty and help energize brand recognition of what is already a premiere creative force in the beauty business.”

As part of a non-compete agreement, Mr. Beetz will not immediately assume responsibility for Coty’s prestige division. It will report directly to Mr. Harf until February 2, 2002.