Bernd Beetz.

BERLIN—The partnership structure at Mykita has changed—effective Feb. 17, all partners, at their own request and with the exception of original co-founder Moritz Krueger, withdrew their partnerships. The new partner structure now consists of Bernd Beetz and Krueger.

Krueger, CEO and creative director since the foundation of Mykita, remains in this operative role and will continue his work as the head of Mykita supported by the longstanding management team. In his role as partner, Beetz will pursue a path of success for Mykita alongside Krueger, the company said.

“In Bernd Beetz, we have found the ideal partner, because he understands Mykita and knows that the creative and innovative culture is our greatest capital,” said Krueger.

Beetz was most recently CEO of Coty Inc., a global beauty products company. During his 11 years at Coty, he grew revenue, expanded the company’s presence to 135 worldwide markets and added significant brands to its portfolio, Mykita said. Prior to joining Coty, Beetz oversaw the Perfume and Cosmetics division at LVMH, where he led the House of Christian Dior as president and CEO. Before that, he spent more than 20 years at Procter and Gamble, serving in a variety of senior management roles. He currently serves as chairman of the board and CEO of St. John Knits, Inc. and as a member of the supervisory board of Douglas Holding AG.

The financial terms of the partnership change were not disclosed.