All of Mykita's partners, at their own request and except for Moritz Krueger, the original co-founder, have withdrawn their partnership, effective Feb. 17. The new partners are now Moritz Krueger and Bernd Beetz.

Krueger, who has been Mykita's chief executive and creative director since the foundation of the company, will maintain these operative roles. Bernd Beetz will work alongside Krueger to pursue a path of success for Mykita, the company said.

Most recently, Beetz was chief executive of Coty, a global beauty products company. During his 11-year career at Coty, he expanded the company's presence to 135 markets worldwide while adding new brands to its portfolio. Prior to that, he worked at LVMH, where he oversaw the Perfume and Cosmetics division and led the House of Christian Dior as president and chief executive. Before joining LVMH, he spent more than 20 years at Procter and Gamble, serving in various senior management roles. He is currently chairman of the board and chief executive of St. John Knits, and a member of the supervisory board of Douglas Holding.