The fragrance and cosmetics company said Monday that Michaels bring extensive consumer goods experience to the board. During his time at Mars, he led efforts to bolster the company’s portfolio of businesses via brand revitalization and product innovation, and he and his team are credited with achieving record growth by refocusing Mars on its core business, stressing operational efficiency and nurturing a high-performance culture.
“Paul S. Michaels is one of the most highly respected leaders in the consumer goods industry, and we are excited to add him to Coty’s board of directors,” stated Bart Becht, chairman and interim chief executive officer of Coty. “His expertise and creativity in working with global brands will be a tremendous asset to the company as we continue to pursue our strategy of returning Coty to profitable growth behind its brand building and efficiency programs.”
Michaels retired from Mars at the end of 2014. He began his career at Procter & Gamble Co. and later moved to Johnson & Johnson, where he spent 15 years building many of the company’s flagship brands, including such health and beauty products as Band-Aid adhesive bandages, Reach Toothbrushes and Johnson’s Baby Shampoo, among others.
“I have admired Coty for a number of years, and I am looking forward to working with my fellow directors to help guide Coty to its next phase of growth,” Michaels commented. “I have immense respect for Bart and his colleagues and feel that Coty is poised to enhance its leadership position in the global beauty industry.”
Coty’s fragrances, color cosmetics and skin and body care products are sold in more than 130 countries and territories, and the company’s brands include adidas, Calvin Klein, Chloé, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.