Wella Company Names Annie Young-Scrivner as CEO
KKR has named Annie Young-Scrivner as the new Chief Executive Officer (CEO) of the Wella Company (“Wella” or the “Company”), one of the world’s leading beauty companies with iconic brands including Wella Professionals, Clairol, OPI, Nioxin, and ghd. The appointment will become effective upon close of the previously announced transaction in which KKR is acquiring 60% of Wella from Coty Inc.
Ms. Young-Scrivner joins Wella from GODIVA Chocolatier (“GODIVA”) where she served as CEO for the last three years. Her tenure at GODIVA is marked by accelerating growth with expansion into new channels and categories to make the iconic brand more accessible to consumers, while honoring the brand’s heritage. In addition to being the driving force behind GODIVA’s social impact efforts to empower women, Ms. Young-Scrivner also led the enhancement of GODIVA’s digital experience, making it a critical component to the brand’s ecosystem.
During her three-decade career, Ms. Young-Scrivner has demonstrated exceptional strength in brand, digital, and talent development across different channels. Having worked in more than 30 countries around the world, she brings a deep understanding of global markets. Prior to GODIVA, Ms. Young-Scrivner spent seven years in a number of senior positions at Starbucks Corporation (“Starbucks”) where she helped elevate the brand and customer experience while fueling an innovation pipeline that led to double-digit growth. Her leadership on digital and loyalty helped Starbucks’ operations across the globe to engage with its consumer in more meaningful ways. She started her career at PepsiCo Inc. where she held senior leadership roles in sales, marketing and general management during her 19-year tenure with the business.
“Given Annie’s vast global experience in working with B2B and B2C businesses and her intuitive understanding of digital engagement in consumer-centric industries, we are confident she will help unlock the true potential of Wella’s portfolio,” said Nancy Ford, Managing Director at KKR in the Americas Private Equity business.
“I am honored to join Wella at such a pivotal time in the brand’s history as it celebrates 140 years of Wella, but the 40th anniversary of OPI, the 20th of ghd, and the birth of WeDo/ Professional,” Ms. Young-Scrivner said. “I’ve long admired the company’s passion for supporting its partners, many of which are small enterprises. My family had many small businesses, ranging from restaurants to retail shops to wellness salons. The entrepreneurial spirit is weaved into my DNA, and it’s why I have tremendous respect for small business owners, like the 250,000 nail and hair salons we serve today.”
In Great Hands
“It’s been an amazing journey. I love this industry, its people, our brands and most of all, my teams around the globe. Stepping down is the most challenging decision of my career yet I believe my mission at Wella has been fulfilled. Having led Wella to independence again will be my legacy. I am very proud of what we have accomplished together, and I deeply thank the #wellafamily for rewarding me with their trust and support through these many years,” said Ms. Moreau. “It comforts me to leave this organization in great hands. Annie is a wonderful leader who believes in the power of people and who’ll bring a fresh point to the business and to the Leadership Team, as the Wella Company embarks on its next chapter,” she concluded.
After the transaction closes, 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 the Wella Professional, Clairol, OPI, Nioxin and ghd brands, which are valued at $4.3 billion on a cash- and debt-free basis under the terms of the transaction. KKR will own 60% of the Company and Coty will own the remaining 40%.
As CEO, Ms. Young-Scrivner will report to Wella’s Board of Directors. The standalone Wella Company is expected to have an estimated 6,000 employees and remain a top global player in the professional beauty industry, serving over 250,000 hair and nail salons in over 100 countries and serving consumers globally through its iconic retail brands. The transaction is expected to close by the end of the year.
For more info about the brand, visit Wella here.