Coty revamps executive leadership

NEW YORK — Beauty brand Coty has promoted Stephen Mormoris to the position of SVP, global marketing American fragrances, Coty Prestige. Additionally, Johanna Businelli has been promoted to the newly created position of SVP, color cosmetics, Coty Beauty.

Mormoris will be charged will strengthening and building brands such as Calvin Klein, Marc Jacobs and Balenciaga, as well as developing new luxury fashion and lifestyle brands. He will also retain responsibility for scouting new partnerships in the fragrance arena as well as overviewing some strategic relationships with existing partners. Mormoris will report to Jean Mortier, president, Coty Prestige.

"Steve is a seasoned, top-notch marketer who has played a key role in Coty's success throughout the past 12 years," said Mortier . "Thanks to his creativity, business sense and broad understanding of global market trends, he has built strong, enduring, consumer-relevant brands in cosmetics and fragrances. His appointment will further strengthen the global ambitions of our brands, as we continue to develop Coty as a dynamic worldwide beauty leader."

"I have a real passion for Coty, the beauty industry and the brand partners who have been so instrumental in our success," added Mormoris. "I look forward to taking on this new role with gusto and helping the Coty brand further develop through Coty Prestige; the