Investment firm KKR has named Annie Young-Scrivner as the new Chief Executive Officer (CEO) of the Wella Company.
Following KKR’s acquistion of Wella Company from Coty, Annie Young-Scrivner has been announced as the new CEO. Wella distributes a number of brands including Wella Professionals, Clairol, OPI, Nioxin, and ghd.
“We are thrilled that Annie will bring her tremendous passion for the consumer sector, her commitment to diverse and inclusive organizations, and her proven track record of building the value of consumer brands and businesses to the newly formed Wella Company,”
– Tim Franks, Partner at KKR and Head of Consumer & Retail in its European Private Equity business.
Premium Beauty News reports that: “current President of Coty’s Professional and Retail Hair businesses, Sylvie Moreau, will remain in her role until the transaction between KKR and Coty closes”.
Once the transaction closes, Wella will operate as a separate company with its own management team and operational structures. KKR will own 60% of the Company and Coty will own the remaining 40%.