Coty, the cosmetics firm that owns brands like Rimmel and Kylie Cosmetics, declared that it had extended Sue Y. Nabi’s contract. Sue Y. Nabi will take over as CEO in 2020.
Previously in charge of Groupe L’Oréal brands like L’Oréal Paris and Lancôme, Nabi will now get pay “anchored on a long-term equity programme which runs through 2030,” according to Paris-based Coty. This programme will include both performance-related shares and bonuses.
Coty is also considering a second listing on the Paris Stock Exchange, which would provide it further exposure and access to financing from European investors. Shares of the company, which has been listed in New York since 2013, have increased by over 60% in the past year, despite key licensor Kering announcing plans to gradually bring backits internal beauty enterprises.
The demand for licenced fragrances like Hugo Boss and Gucci as well as market-share gains for mass makeup companies CoverGirl and Rimmel drove a 16 percent organic increase in sales in 2022.