Coty Inc. filed a Form 8-K on September 11, 2026, disclosing the terms of a leadership transition agreement under which former Chief Financial Officer Laurent Mercier will serve as Strategic CEO Advisor through June 30, 2027, following the appointment of Soraya Benchikh as CFO.

Key Highlights

  • CFO departure date: Laurent Mercier ceased serving as Chief Financial Officer on September 1, 2026.
  • New role: Mercier will serve as Strategic CEO Advisor through the Transition End Date of June 30, 2027.
  • Base salary retained: Mercier will continue to receive his annual base salary of €825,000 through the Transition End Date.
  • One-time bonus: Mercier is entitled to a fixed one-time bonus of €290,000; he will not be eligible for any annual bonus or variable compensation for fiscal years 2026 or 2027.
  • Early exit option: Mercier may accelerate the Transition End Date to no earlier than December 20, 2026, and would then receive a lump-sum payment equal to the salary otherwise payable through June 30, 2027.
  • Equity treatment: Equity awards scheduled to vest in October 2026 remain eligible to vest; any awards unvested after the Transition End Date will be forfeited.
  • Post-transition covenant: Mercier will be subject to a twelve-month non-competition covenant following the Transition End Date and will receive related contractual non-competition payments.

Mercier Transition Agreement: Key Terms and Timeline

According to the filing, Coty Inc. (NYSE:COTY) entered into a Transition Agreement with Laurent Mercier in connection with its previously announced appointment of Soraya Benchikh as Chief Financial Officer. Mercier's transition from CFO took effect September 1, 2026, and he has begun service as Strategic CEO Advisor. The company disclosed that during September and October 2026, Mercier will assist with the handover of his responsibilities.

Beginning November 1, 2026, the filing states, Mercier will be released from active duties while remaining available to provide transition-related advisory services through June 30, 2027. The Transition Agreement provides that his annual base salary of €825,000 will continue through that date. The filing notes that Mercier may elect to accelerate his departure to no earlier than December 20, 2026, in which case he would receive a lump-sum payment equal to the remaining salary that would otherwise have been paid through June 30, 2027.

On compensation, the filing specifies that Mercier will not be eligible for any annual bonus or variable compensation for fiscal years 2026 or 2027, other than a fixed one-time bonus of €290,000. Equity awards scheduled to vest in October 2026 will remain eligible to vest under their existing terms, while any equity awards still unvested as of the Transition End Date will be forfeited. Following the end of the transition period, Mercier will be bound by a twelve-month non-competition covenant and will be entitled to receive contractual non-competition payments, as well as applicable contractual and collective bargaining severance benefits. The company noted that the full Transition Agreement will be filed as an exhibit to its Form 10-Q for the period ending September 30, 2026.

What Was Disclosed

Coty disclosed the terms of Laurent Mercier's departure from the CFO role and his transition to a Strategic CEO Advisor position, including salary continuation, a one-time bonus, equity treatment, an early-exit option, and a post-transition non-competition covenant.