Coty hires P&G veteran as executive chair in leadership overhaul
Markus Strobel also becomes interim chief, replacing Sue Nabi who departs after sharp falls in share price
Markus Strobel also becomes interim chief, replacing Sue Nabi who departs after sharp falls in share price

Chief executive Arthur Hoeld has cut hundreds of jobs and reshaped sportswear company’s leadership team

Consultancy begins overhaul of pricing and services in face of technology undercutting its business

Shake-up spurred on by rise of AI and threat of major upheaval across the industry

Likely replacement quits after board extends longtime leader’s contract to 2029

Role of understudy is usually implied rather than clearly denoted

The audience that bosses are often most anxious to impress is their peers