Yesterday, according to WWD, Creed, the luxury niche fragrance brand, is set for a leadership change as Sarah Rotheram, the company’s chief executive officer, will step down at the end of October. Rotheram’s departure was announced by Creed’s parent company, Kering, in a statement, though her successor has not yet been named. Until a permanent CEO is appointed, Raffaella Cornaggia, CEO of Kering Beauté, will manage the brand’s executive team and oversee its strategic development.
Rotheram’s exit comes after five years at the helm, during which she played a key role in growing the brand. Cornaggia praised her leadership, saying she has built a strong team and positioned Creed for its next stage of growth.
This transition follows Kering’s acquisition of Creed in June 2023 for $3.8 billion, marking the luxury group’s first major move since launching its beauty division earlier in the year. Cornaggia also highlighted how the brand has expanded its feminine fragrance portfolio and maintained strong sales momentum under Rotheram’s leadership.
In her farewell statement, Rotheram expressed gratitude for working with the brand, its team, and its partners, adding that she looks forward to seeing Creed continue to thrive under Kering’s ownership. She emphasized that Kering’s values align with Creed’s dedication to craftsmanship and innovation, ensuring the fragrance house’s legacy is well-protected.
Recently, there have been frequent executive changes at Kering Beauté. In February 2023, Kering Beauté appointed former L’Oréal and Estée Lauder executive Raffaella Cornaggia as CEO. In April of this year, the group appointed former L’Oréal executive Thibault Tétrel as Sales Director. In June, Kering Beauté named Stéphane Perrault as its Chief Financial Officer. Perrault previously served as CFO of Shiseido’s Europe, Middle East, and Africa division, as well as Global CFO of its fragrance division.
Earlier, François-Henri Pinault mentioned in a conference call with financial analysts, “Beauty is a natural extension of our brand domains. Currently, we operate the beauty business through a licensing model, but the success of Kering Eyewear shows that we can take some disruptive and innovative approaches. On one hand, this creates significant value for our brands, and on the other hand, it generates value for the group. Therefore, beauty is definitely an area where we can consider taking some actions in the future, and all options are open.”
