By and  on July 25, 2012

NEW YORK — Bernd Beetz, one of the beauty industry’s most competitive and hard-charging chief executives, will soon be on the sidelines.

Coty Inc. on Wednesday said Beetz is stepping down as the company’s ceo, and that its board has named president of Coty Prestige Michele Scannavini as his successor, effective Aug. 1. The impending management change comes less than a month after Coty filed for its initial public offering, following a failed attempt to acquire Avon Products Inc.

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