Coty poaches new chief scientific officer from Shiseido
American cosmetics giant Coty, Inc. announced on Tuesday that it has appointed Dr. Shimei Fan as its new chief scientific officer. Currently serving as senior vice president of Shiseido’s Americas Innovation Center, Fan will join Coty, which owns brands including Covergirl, Rimmel and Max Factor, on January 3, 2022, and will report to the company’s CEO, Sue Y. Nabi. She will be based in Amsterdam.
In her new role at Coty, Fan will lead 500 employees in the company’s global R&D and innovation function and will play a key role in ensuring that the expansion and development of the group’s product portfolio is carried out sustainably.
“Coty is leading the field of ‘Clean Beauty That Works’, and with Shimei as chief scientific officer leading on sustainability, we are demonstrating our belief that sustainability is the ultimate driver of beauty innovation and central to Coty’s continued success,” explained Nabi in a release.
In addition, Fan will focus on using Coty’s portfolio of IP, which includes skincare ingredients, encapsulation technologies and skin protection expertise, to enhance the company’s seven skincare brands. She will also help implement ongoing inclusivity efforts in both the group’s skincare and color cosmetics ranges.
Fan brings almost three decades of R&D experience to her new position and boasts important expertise in color cosmetics, skincare and the Chinese beauty market, three of Coty’s principal strategic growth drivers.
Prior to joining Shiseido, Fan served as vice president of global R&D for personal care at Beiersdorf from 2016 to 2019 and as global R&D director at Johnson & Johnson’s consumer division from 2014 to 2016.
The executive, who holds a bachelor’s degree in Nuclear Chemistry from Shanghai’s Fu-Dan University, a master’s degree in Superconductors from Cambridge University, and a PhD in Physical Chemistry from the University of Southampton, began her R&D career at Unilever, where she spent 22 years.
According to Coty, Fan’s appointment as chief scientific officer, a role in which she will take over the R&D responsibilities previously held by the company’s chief supply officer and head of R&D, reflects the organization’s focus on sustainability-driven innovation moving forward.
In the first quarter ended September 30, 2021, Coty reported revenues of $1.4 billion, representing growth of 22% compared to the prior-year period, while the company’s net income totaled $103.0 million.
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