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CORRECTED-Coty CEO Beetz retires ahead of IPO
July 25, 2012 / 11:59 AM / 5 years ago

CORRECTED-Coty CEO Beetz retires ahead of IPO

(Corrects spelling fo Beetz in second paragraph)

July 25 (Reuters) - Fragrance maker Coty Inc said on Wednesday Bernd Beetz is retiring as chief executive, just weeks after the company filed for an initial public offering.

Michele Scannavini, who has run the Coty Prestige unit for the past 10 years, will succeed Beetz, said the company, which sells perfumes under the Calvin Klein, Davidoff and Chloe brands, among others.

Earlier this year, Coty attempted a $10.7 billion takeover of Avon Products Inc, withdrawing the bid after Avon missed Coty’s deadline to discuss the offer.

Reporting By Brad Dorfman; Editing by Gerald E. McCormick

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