In yet another rapid succession in Coty 's top leadership this year, Sue Y. Nabi, a global beauty industry entrepreneur—and the youngest president in L'Oréal's history—will become CEO of Coty in September. Peter Harf, who most recently assumed the company's CEO role last month, and known as "the founder of the modern Coty," now assumes the title of Executive Chairman. He will work closely with Nabi to lead Coty's transformation. According to Coty, Nabi is "a recognized global innovator and beauty industry entrepreneur"—and the founder and CEO of the new-age luxury skincare line, Orveda. Previously, she served as worldwide president of both L'Oréal, and Lancôme, during her 20-year tenure at L'Oréal. Harf commented: "Sue is renowned as a visionary and ongoing game-changer whose outstanding creativity is celebrated in the beauty industry.