WALTER FARNSTEINER TO RETIRE AS PRESIDENT OF EUROCOS
BERLIN — Walter Farnsteiner, 63, president of Eurocos Cosmetic GmbH, Gross-Gerau, Germany, will retire at the end of the month after 24 years in the beauty business. He will continue to act as an adviser to Eurocos, the prestige fragrance division of Procter & Gamble.
Farnsteiner will be succeeded by Hartwig Langer, currently vice president and managing director at Procter & Gamble in Egham, U.K.
For six years, Langer has been primarily active in the prestige and designer fragrance field.
Farnsteiner, who headed Betrix Cosmetics prior to directing Eurocos, was in charge of developing Procter & Gamble’s prestige fragrance business from its early beginnings to its current position in the global top 10.
During Farnsteiner’s tenure, the Hugo Boss and Laura Biagiotti brands became internationally known.
John Pepper, chairman and chief executive of P&G, said, “Walter Farnsteiner made a considerable contribution in building the prestige fragrance business worldwide, in particular also through the development of the business in Europe, which just completed the current business year with excellent results. “