Benckiser Organizes Cosmetics Activities In New Coty Holding Company.NEW YORK--(BUSINESS WIRE)--February 26, 1996--Joh. A. Benckiser GmbH announced today that, effective immediately, the company will organize its worldwide cosmetics and fragrance activities within a single holding company bearing the Coty name. Peter Harf, Chairman and Chief Executive Officer of Benckiser, will also be Chairman and Chief Executive Officer of Coty, which will be headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Paris. The new cosmetics company will be comprised of two business units, the Lancaster Group Division, responsible for fragrances and cosmetics in selective distribution, and the Coty Division, responsible for fragrances and cosmetics in mass distribution. "Each of our divisions will maintain its individual identity as we continue to separately market and sell our mass and selective distribution brands in their respective channels of trade. At the same time, the new Coty entity creates synergies and potential cost savings that will increase Benckiser's worldwide competitiveness in the cosmetics industry," Dr. Harf said in making the announcement. Joining Dr. Harf on the Management Committee are four Executive Vice Presidents: Udo Webersinke as head of operations for the entire cosmetics business; Didier Foulon, responsible for the Lancaster Group Division; Jean-Andre Rougeot, responsible for the Coty Division and Ashok Bakhru as Chief Financial and Administrative Officer. Ashok Bakhru joins Coty after a successful career at Scott Paper Company The Scott Paper Company is a USA-based corporation which manufactures mostly paper based consumer products. Scott Paper was founded in 1879 in Philadelphia, Pennsylvania by brothers E. where he served as Senior Vice President and Chief Financial Officer and also as Senior Vice President with operating responsibilities for five businesses. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Dr. Harf, "This new entity provides Benckiser with the organizational platform to continue profitable growth for our cosmetics business in existing and new markets. We see tremendous opportunities for expansion, most particularly in Asia, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. ." The new Coty, with 1995 sales of $1.5 billion, is the number one worldwide marketer of fragrances. It also holds the number two position in Europe in mass market color cosmetics and the number one position in the total European selective market for both men's fragrances and sun care. Leading brands include Vanilla Fields, Jovan, Stetson, Adidas and Margaret Astor in mass distribution, and Davidoff, JOOP JOOP - Journal of Object-Oriented Programming !, Chopard, Lancaster, Jil Sander
Joh. A. Benckiser of Ludwigshafen, Germany is a worldwide consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and company with annual sales of $3.3 billion. Through the Benckiser Household Products division, the company is the worldwide market leader in both automatic dishwashing detergents and water softeners. It also holds strong market positions in numerous countries in laundry detergents, fabric softeners and household cleaners. CONTACT: Barbara A. Taylor (212) 479-4332 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion