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Both Harf and Becht run JAB, which has a 39 percent stake in Coty and is also a majority shareholder of Dutch beverage company Jacobs Douwe Egberts, where Laubies was the CEO until December 2017. The management shakeup comes as Coty struggles to integrate the 41 beauty brands it acquired from Procter & Gamble (PG.N) in 2016. Last week, the company said supply chain problems from a trucker strike in Brazil, hurricanes in the United States and a warehousing issue in Germany were making it difficult to integrate the brands quickly. It also issued a profit warning that wiped out more than a fifth of its market value mens initial cufflinks uk sale.
“(The changes are) not that surprising given the poor performance of the company and the additional supply chain issues that have come about,” said D.A. Davidson analyst Linda Bolton Weiser mens initial cufflinks uk sale. Becht had handpicked Pane as Coty’s CEO in 2016, but shares have fallen 64 percent since his appointment. Both executives previously worked at Reckitt Benckiser (RB.L), where Becht once served as CEO. Jefferies analyst Stephanie Wissink said the degree of senior level leadership changes at Coty over the last two years has been overwhelming..
Coty’s new CEO Laubies is likely to face challenges that were similar to those at JDE, which he led for more than four years and was responsible for overhauling a mass coffee brand in a highly competitive market, said Jonathan Feeney, managing partner at research firm Consumer Edge. “Certainly some of the challenges of the COTY Consumer Beauty business rhyme with those of JDE,” Feeney said. Laubies has also worked at confectionary company Mars Inc and soup maker Campbell Soup (CPB.N). Coty shares were up nearly 4 percent on Monday afternoon mens initial cufflinks uk sale.
(Reuters) – Dutch cooperative lender Rabobank is exploring the sale of its retail and wealth management operations in the United States in a deal that could top $1 billion, people familiar with the matter said on Monday. The move shows how Rabobank is pressing on with efforts to restructure itself. It announced two years ago it would shed 9,000 jobs, a fifth of its workforce, and said it would reduce its balance sheet by 150 billion euros ($170 billion) by 2020 as part of a five-year strategic plan mens initial cufflinks uk sale.
The sources said that the business up for sale is part of Rabobank N.A., the California-based unit of the bank, which provides retail and wealth management services, as well as commercial financing, through a network of more than 100 branches. Rabobank N.A. held total assets worth $13.5 billion as of June 30, according to the Federal Reserve. No breakdown exists for the assets of the retail and wealth operations that are up for sale. The sources asked not to be identified because the sale process is confidential. Rabobank declined to comment mens initial cufflinks uk sale.