Lubomira Rochet Joins Coty’s Board
After joining Coty’s biggest shareholder as a partner last year, former L’Oréal tech guru Lubomira Rochet has been appointed to the beauty company’s board of directors. The move increases female representation on Coty’s board to 50 percent and the total number of directors to 12, according to the company.
Rochet, a partner at JAB Holding Company, whose investments include Bally as well as Coty, is no stranger to the beauty business. She previously served as chief digital officer and a member of the executive committee at L’Oréal for seven years until 2021, when she joined JAB.
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During her tenure at L’Oréal, she led its marketing and commercial pivot to a digital-first company, scaling e-commerce to 27 percent of the group’s revenue with more than 45 percent average yearly growth. She also accelerated direct-to-consumer engagement and digital marketing.
Prior to joining L’Oréal, Rochet served in management positions at CapGemini and Microsoft. In 2010, she became deputy chief executive officer of digital marketing agency Valtech, where she worked across a variety of sectors, including fashion, to accelerate their digital, data and tech transformation.
Of the appointment, Sue Nabi, Coty’s CEO, said: “We are delighted to welcome Lubomira to our board of directors. Her deep industry experience and extensive track record of driving digital transformation will be an invaluable asset as we enhance our omnichannel approach. I look forward to working closely with Lubomira in the future and to harnessing her valuable perspective and insights on the future of digital integration for the industry and our business.”
Coty’s net revenues came in at $1.39 billion in the first quarter ended Sept. 30. Prestige revenues declined 1 percent to $863.4 million on the back of currency fluctuations and the negative impact from Coty’s exit from Russia. Consumer beauty revenues, meanwhile, grew 5 percent to $526.6 million, boosted by a strong launch pipeline and brand initiatives in its body care business.
