The retirement has been in the pipeline for a couple of years, but Macchio agreed to postpone it until after the merger and integration with P&G Beauty Business was well advanced, Coty said in a press statement.
Coty said a successor will be announced in the near future. During the interim, the R&D team will report to the CEO.
“Ralph has been an amazing R&D leader in the beauty industry and retires after a truly distinguished career,”said Camillo Pane, Coty’s CEO. “He has developed many iconic products over the years, pioneered radical and breakthrough technologies and authored numerous patents. These include our highly successful Sally Hansen Miracle Gel, one of the biggest nail successes in beauty, having won 34 awards, and Rimmel Lash Accelerator Mascara, proven to help grow lashes, to name just two. My many thanks, and those of our Board and Executive Committee members, and all his colleagues at Coty go to Ralph for his leadership, commitment, drive and passion for our business, and for the expertise he has brought. We wish him a great retirement.”