Private equity firm KKR has appointed Annie Young-Scrivner as the CEO of the Wella Company, following its acquisition of a majority stake in Coty’s professional and retail hair businesses for $3 billion. Young-Scrivner will lead the newly independent company, which includes well-known brands such as Wella Professional, Clairol, OPI, Nioxin, and GHD. With her extensive experience, including her successful tenure as CEO of Godiva Chocolatier, Young-Scrivner is well-equipped to drive growth and innovation within the beauty industry.

During her time at Godiva, Young-Scrivner played a crucial role in the company’s accelerated growth, expansion into new channels and categories, and improvement of its digital experience. Additionally, she prioritized initiatives to empower women within the organization, further highlighting her leadership abilities and commitment to diversity and inclusion.

Before joining Godiva, Young-Scrivner held senior roles at Starbucks Corporation for seven years, where she focused on enhancing the brand and customer experience, leading to impressive double-digit growth. Prior to that, she gained 19 years of experience at PepsiCo Inc., holding senior sales, marketing, and general management positions. Her extensive background in the consumer sector, coupled with her proven track record in building the value of consumer brands, positions her as a valuable addition to the Wella Company.

Following the completion of the acquisition, the Wella Company will operate as an independent entity with its own management team and operational structures. KKR will hold a 60% stake in the newly formed company, while Coty will retain a 40% stake. Sylvie Moreau, president of Coty’s professional and retail hair businesses, will continue to oversee the company until the acquisition is finalized, which is expected to occur by the end of the year.

Young-Scrivner expressed her gratitude to Moreau for her contributions to Wella and expressed her excitement to collaborate with the team to expand the portfolio of brands and increase the company’s stake in the $90 billion Hair and Nail beauty category. The Wella Company is projected to employ over 6,000 individuals and cater to more than 250,000 hair and nail salons across more than 100 countries. This appointment signifies a significant step in KKR’s strategic investment in the beauty sector, demonstrating their commitment to driving growth and fostering innovation within the industry.

Sources:
– [KKR Names Annie Young-Scrivner CEO of Newly Invented Wella Company](https://www.kkr.com/news/item/kkr-names-annie-young-scrivner-ceo-of-newly-invented-wella-company)
– [Annie Young-Scrivner Named CEO of Newly Independent Wella Company](https://www.kkr.com/news/item/annie-young-scrivner-named-ceo-of-newly-independent-wella-company)