Coty, the beauty company behind brands including Rimmel and Kylie Cosmetics, announced it had extended its contract with veteran beauty executive Sue Y. Nabi, who joined as CEO in 2020.
Nabi, who previously led Groupe L’Oréal brands including L’Oréal Paris and Lancôme, will now see her compensation “anchored on a long-term equity program which runs through 2030,” including both performance-related shares and bonuses, Paris-based Coty said.
Coty is also set to explore a second listing on the Paris bourse, giving it greater visibility and access to capital from European investors. The group, which has been listed in New York since 2013, has seen its shares rally by nearly 60 percent over the past 12 months even as key licensor Kering confirmed ambitions to progressively bring its beauty businesses in-house.
Sales rose 16 percent on an organic basis in 2022, lifted by demand for licensed fragrances including Hugo Boss and Gucci, and market-share gains for mass makeup brands CoverGirl and Rimmel.
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