Coty names Pascal Baltussen as global chief procurement officer
today Dec 12, 2019
Coty has named Pascal Baltussen as global chief procurement officer and a member of the company’s executive committee, effective January 1.
He will replace Coty’s current interim chief procurement officer, Gianluca Colombo.
In the role, Baltussen will lead Coty’s procurement team, focusing on reducing complexity and costs in order to unlock opportunities for reinvestment and profit expansion, the company said. He will report to Pierre Laubies, the company’s chief executive officer, and will be based in Amsterdam.
Prior to joining Coty, Baltussen most recently served as global vice president of procurement and sustainability at Mars Wrigley Confectionery. Previously, he also served as global vice president of procurement, CPO, and as vice president of procurement for Europe at Mars, and as director of global sourcing with Anheuser-Busch InBev, among other roles.
Baltussen joins Coty after Richard Jones was named the company’s global chief supply officer on November 1. According to Coty, which has split its procurement and supply operations departments into two separate organizations, Baltussen’s appointment completes its supply chain leadership reshuffle, as it continues a multi-year turnaround plan.
Jones will work directly with Baltussen, while overseeing Coty’s manufacturing, planning, logistics and distribution.
“Today’s appointment is an important step in supporting our ongoing transformation and our strategic roadmap for future growth,” Laubies said.
“Reducing complexity and costs will drive operational leadership and unlock opportunities for reinvestment and profit expansion.”
In November, Coty posted first-quarter revenue below Wall Street estimates, hit by sluggish sales in its biggest business -- consumer beauty. The company’s net income clocked in at $52.3 million in the quarter ended Sep. 30, while net revenue fell 4.4% to $1.94 billion.
Analysts were expecting $1.97 billion, according to IBES data from Refinitiv.
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