Today, KKR named Annie Young-Scrivner the new chief executive officer (CEO) of the Wella Company. The appointment will become effective upon close of the previously announced transaction in which KKR is acquiring 60 percent of the Wella brand from Coty Inc.
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.
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds.
“We are thrilled that Annie will bring her tremendous passion for the consumer sector, her commitment to diverse and inclusive organizations, and her proven track record of building the value of consumer brands and businesses to the newly formed Wella Company,” said Tim Franks, partner at KKR and head of consumer and retail in its European private equity business.
*Soon, the Wella Company will operate as a separate company with its own management team and operational structures. Wella will be comprised of the assets of Coty’s professional and retail hair businesses, including Wella Professional, Clairol, OPI, Nioxin and ghd brands. KKR will own 60 percent of the company and Coty will own the remaining 40 percent.