Coty Inc. filed a Form 8-K with the SEC on August 20, 2026, disclosing a planned Chief Financial Officer transition, the compensation terms for incoming CFO Soraya Benchikh, and updated pay arrangements for its Interim Chief Executive Officer and Chief Legal Officer, with the changes taking effect as early as September 1, 2026.

Key Highlights

  • CFO succession: Laurent Mercier will remain CFO through August 31, 2026; Soraya Benchikh succeeds him effective September 1, 2026.
  • Benchikh base compensation: Annual gross fixed compensation of €1,165,000, with a target annual bonus of 150% of base salary and a maximum of 300% of base salary.
  • Sign-on equity awards: A restricted stock unit award with a grant-date value of $2.5 million vesting on the third anniversary of grant, plus 1.5 million stock options subject to continued employment and specified performance conditions.
  • Sign-on cash bonus: €860,000 payable in September 2027, subject to continued employment through August 31, 2027 and provided she has not resigned or been terminated for cause.
  • Interim CEO pay increase: Markus Strobel's annual base salary rises from $1,250,000 to $1,600,000 effective September 1, 2026, with a target annual bonus increased from 150% to 170% of base salary and annual equity of $3,000,000.
  • CLO retention bonus: Chief Legal Officer Kristin Blazewicz will receive a $1,275,000 bonus payable in two equal installments in July 2027 and July 2028, subject to continued employment on June 30, 2027 and June 30, 2028.

Coty's CFO Transition and Executive Compensation Changes Detailed

According to the filing, the Board of Directors approved the CFO succession on August 17, 2026. The company disclosed that Laurent Mercier's departure "is not the result of any disagreement with the Company on any matter relating to its operations, policies or practices." Soraya Benchikh, the incoming CFO, most recently served as Chief Financial Officer of British American Tobacco (BAT), where she also held roles including President of BAT France, Area Director for East and Southern Africa, and Regional Finance Director for Europe, according to the filing.

Under her employment agreement, effective September 1, 2026, Ms. Benchikh's annual long-term incentive award under the Company's Equity and Long-Term Incentive Plan carries a target value of $2.5 million, with the initial grant expected during the second half of calendar year 2026, the filing states. She will also receive relocation and mobility benefits, including tax advisory cost reimbursement of up to €10,000 annually, tuition reimbursement of up to €30,000 per child annually for the first three years of her assignment in France, a €15,000 annual automobile allowance or a company vehicle, and a monthly pension opt-out allowance of €3,500 during the applicable exemption period. The employment agreement includes an 18-month employee non-solicitation covenant and a 12-month post-employment non-competition covenant covering Europe and the United States.

The filing separately reported that the Remuneration and Nomination Committee approved updated compensation for Markus Strobel, Executive Chairman and Interim CEO since January 1, 2026, and for Chief Legal Officer Kristin Blazewicz, who has served in that role since March 2020. The company noted that the full texts of the compensation letters for Mr. Strobel and Ms. Blazewicz will be filed as exhibits to the quarterly report on Form 10-Q for the period ended September 30, 2026. The filing was made by Coty Inc. (NYSE:COTY), whose Class A Common Stock, $0.01 par value, is listed on the New York Stock Exchange.

What Was Disclosed

Coty's 8-K disclosed a CFO succession effective September 1, 2026, the full compensation terms for incoming CFO Soraya Benchikh, a base salary increase and bonus-target increase for Interim CEO Markus Strobel, and a $1,275,000 retention bonus for Chief Legal Officer Kristin Blazewicz.