JAB’s Peter Harf Places a $150 Million Wager on Coty
- Harf: ‘I put my money where my mouth is. I believe in Coty’
- Investment comes as new CEO Sue Nabi leads turnaround effort
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Coty Inc.’s Peter Harf is boosting his personal stake in the company by $150 million, giving a vote of confidence to the cosmetics company as it struggles with changing consumer tastes during the pandemic.
Harf, who has served multiple stints as Coty’s chief executive officer and is now executive chairman, reached a deal to buy the shares from KKR & Co., according to a filing. He owned 12.3 million shares as of February, according to a regulatory filing, a stake that would be worth about $59 million currently.