NEW YORK and GENEVA - ( BUSINESS WIRE ) - Today KKR's Annie Young-Scrivner became the new Chief Executive Officer (CEO) of Wella Company, one of the world's leading beauty companies iconic brands such as Wella Professionals, Clairol, OPI, Nioxin and ghd. The appointment will become effective upon completion of the previously announced transaction in which KKR will acquire a 60 percent interest in Wella from Coty Inc. (NYSE: COTY).

Before joining Wella, Ms. Young-Scrivner was with GODIVA Chocolatier ("GODIVA"), where she had held the CEO position for three years. Her tenure at GODIVA was marked by accelerated growth with a push into new sales channels and categories. This made this iconic brand more accessible to consumers and at the same time honored the brand tradition. Young-Scrivner was not only the driving force behind GODIVA's efforts to empower women in society, but she also led the optimization of the digital customer experience at GODIVA, which has become a critical aspect of the brand environment.

In her three-decade career, Young-Scrivner has demonstrated exceptional skills in brand, digitization and talent development across various channels. She has worked in more than 30 countries around the world, giving her a deep understanding of global markets. Prior to joining GODIVA, Young-Scrivner held a number of senior positions with Starbucks Corporation ("Starbucks") for seven years. Here she contributed to improving the brand and customer experience and increasing the company's innovative strength, which led to double-digit growth. Thanks to her leadership in digitization and loyalty, Starbucks was able to reach out to customers in a more meaningful way in its global operations.

“We are delighted that Annie Young-Scrivner brings her great passion for the consumer sector and her commitment to diverse and inclusive organizations to us. Their proven track record of building value in consumer brands and businesses will be of paramount importance to the newly formed Wella Company, ”said Tim Franks, Partner at KKR and Head of Consumer & Retail in its European Private Equity Business.

"Given her tremendous global experience in B2B and B2C businesses and her intuitive understanding of digital engagement in consumer-centric industries, we believe she will help us unlock the real potential of Wella's portfolio," said Nancy Ford. Managing Director at KKR in the Americas Private Equity Business.

“It is a great honor to join Wella at such a critical time in the history of the brand as the brand is celebrating 140 years of working with beauty professionals and hair salon owners,” said Annie Young-Scrivner. “I have long admired Wella’s iconic brands and their groundbreaking innovations, and I look forward to working with the team as we see the brand portfolio grow and the company's $ 90 billion market share Work towards the hair and nail care industry. "

Sylvie Moreau, the current President of Coty's Professional and Retail Hair businesses, will remain in her role until the deal between KKR and Coty is completed. “I would like to express my sincere thanks to Sylvie Moreau for leaving such a wonderful legacy, a remarkable team, and a solid foundation for growth on which to continue,” said Young-Scrivner.

Once the transaction has been completed, the Wella Company will operate as a separate company with its own management team and its own operating structures. Wella will then encompass the assets of Coty's Professional and Retail Hair businesses, including its Wella Professional, Clairol, OPI, Nioxin and ghd brands, valued at $ 4.3 billion on a cash and debt free basis under the terms of the transaction. KKR will own 60 percent of the company and Coty will own the remaining 40 percent.

As CEO, Ms. Young-Scrivner reports to the Wella Board of Directors. The independent Wella Company is expected to employ around 6,000 people and remain a top global player in the professional beauty industry, supplying more than 250,000 hair salons and nail salons in over 100 countries and serving consumers worldwide with its iconic retail brands.

The transaction is expected to be completed by the end of the year.

Short biography of Annie Young-Scrivner

Annie Young-Scrivner was CEO of GODIVA Chocolatier since August 2017. Before joining GODIVA, she held various high-level management positions at Starbucks Corporation from 2009, including Executive Vice President, Global Digital & Loyalty Development; President, Teavana & Executive Vice President of Global Tea; President of Starbucks Canada; and Global Chief Marketing Officer & President of Tazo Tea. Prior to Starbucks, Young-Scrivner spent 19 years at PepsiCo, where he held senior sales, marketing and general management positions including Chief Marketing Officer and Head of Sales for the Quaker Foods and Snacks Division; Chairman and Region President of PepsiCo Foods Greater China; and Vice President and General Manager of the PepsiCo Target team.

Ms. Young-Scrivner currently serves on the Board of Directors of Tiffany & Co. and YUM! Brands and previously served on the board of Macy's Inc. She holds a bachelor's degree from the Foster School of Business, University of Washington, and an Executive MBA from the Carlson School of Business, University of Minnesota. She also graduated from IMD Business School in Switzerland, the Yale School of Management and the Darden School of Management at the University of Virginia.

About the Wella Company

The Wella Company * is a leading global beauty company that includes a group of prominent brands such as Wella Professionals, Clairol, OPI, Nioxin and ghd. With 6,000 employees worldwide and a presence in over 100 countries, the Wella Company and its brands are on a mission to empower consumers to express and feel their true personality through the power of positive change. The Wella Company is created and designed for today's and tomorrow's beauty fans and continues to be committed to diversity and inclusion, sustainability and a range of social issues. For more information about the Wella Company, please visit : www.wellacompany.com .

* The new company will not operate under the name and logo of the Wella Company until the transaction is completed.

About KKR

KKR is a leading global investment firm that works with strategic partners who manage hedge funds to manage multiple alternative asset classes, including private equity, loans and property, plant and equipment. KKR wants to generate attractive returns for its fund investors and to this end it pursues a patient and disciplined investment approach. It employs world-class people and drives growth and value creation with the KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financial solutions and investment opportunities through its capital market business. References to investments by KKR may include the activities of its sponsored funds. More information about KKR & Co. Inc. (NYSE:www.kkr.com and on Twitter @KKR_Co.

About Coty

Coty is one of the world's largest beauty companies with an iconic portfolio of brands in fragrance, color cosmetics, hair coloring and styling products, and skin and body care. Coty is the world leader in fragrances, a strong number two in salon hair coloring and styling products, and number three in color cosmetics. Coty products are sold in more than 150 countries around the world. Coty and its brands are committed to a range of social issues and strive to minimize the impact of their operations on the environment. More information about Coty Inc. can be found at www.coty.com .