Shares of Mondelez International Inc (NASDAQ:MDLZ) ended Wednesday session in green amid volatile trading. The shares closed up +0.09 points or 0.21% at $42.93 with 10.80 million shares getting traded. Post opening the session at $42.81, the shares hit an intraday low of $42.51 and an intraday high of $43.06 and the price vacillated in this range throughout the day. The company has a market cap of $66.73 billion and the numbers of outstanding shares have been calculated to be 1.56 billion shares.
Mondelez International Inc (MDLZ) on Sept. 14, 2016 confirmed a $65 million investment to build a global Research, Development & Quality (RDQ) network of the future. The investment will enable the company to better recruit, retain and develop talent across a range of science and technical disciplines while also creating a stronger presence in both emerging and developed markets. When complete, the redesigned network will consist of a combination of new and existing technical centers that will be more flexible and agile in responding to the company’s growth and innovation needs.
Over the next two years, the company will focus its RDQ network at nine advantaged technical centers, concentrating people and resources into better equipped hubs:
- Mexico City, Mexico
- East Hanover, N.J., United States
- Bournville, United Kingdom
- Reading, United Kingdom
- Wroclaw, Poland
- Thane, India
- Suzhou, China
- Jurong, Singapore
- Curitiba, Brazil
“With these advantaged technical centers, we’re focusing our investment in research, equipment and capabilities to drive innovation to support our growth strategy and innovation, margin and quality platforms,” said Rob Hargrove, Executive Vice President, RDQ. “These hubs will enable improved efficiency, effectiveness and accelerated project delivery, while the increased scale across key markets will provide rapid access to changing consumer needs and trends.”
Three of the centers — East Hanover, Bournville and Reading — are already in full operation. The company will break ground on the Singapore facility in November 2016 and the Thane facility in December 2016 with the new Wroclaw building opening in 2017. The remainder of the redesigned network will open through 2018.
Shares of Coty Inc (NYSE:COTY) ended Wednesday session in red amid volatile trading. The shares closed down -0.24 points or -1.00% at $23.85 with 22.29 million shares getting traded. Post opening the session at $24.10,the shares hit an intraday low of $23.57 and an intraday high of $24.24 and the price vacillated in this range throughout the day. The company has a market cap of $8.04 billion and the numbers of outstanding shares have been calculated to be 74.01 million shares.
Coty Inc (COTY) on July 21, 2016 announced that its Board of Directors has appointed Camillo Pane as Chief Executive Officer and member of the Coty Board, each effective as of the day following the closing of the merger of P&G Specialty Beauty into Coty, expected to occur in October 2016. Bart Becht, currently Interim CEO and Chairman of Coty, will continue to serve as the Chairman of Coty’s Board. Camillo Pane currently holds the position of Executive Vice President of Coty’s Category Development and is a member of the Coty Executive Committee.
Commenting on the appointment, Bart Becht, Chairman, says, “I’m very pleased to see Camillo appointed as CEO of Coty. He has an excellent track record of accelerating growth, improving business performance and strengthening capabilities to create a best-in-class organization. At Coty, he has already shown himself to be a very strong leader with an intense drive and passion to make Coty the new global challenger in Beauty for the benefit of both consumers and shareholders alike.”
There will be a steady transition between the current and the new CEO as the company focuses on its priorities of accelerating revenue growth and delivering an effective post-merger integration. Bart Becht will continue to focus on the integration where Coty’s management team has made extensive preparation to be able to deliver the financial benefits of the merger. Camillo Pane will, with immediate effect, focus fully on leading the revenue growth agenda in preparation for transitioning into the CEO role at the closing of the P&G transaction.