Coty pays former CFO through 2027 following transition
In the complex world of corporate leadership transitions, sometimes the best move isn’t a full departure, but a carefully managed handover. That’s the case at Coty, where the company is ensuring continuity by keeping its former Chief Financial Officer, Laurent Mercier, on board for the long haul.
Mercier stepped away from his active duties on September 1st, transitioning into a strategic advisory role. However, recognizing the critical nature of the ongoing restructuring efforts, Coty has made the pragmatic decision to retain Mercier’s expertise, providing him with continued support until June 2027.
This arrangement is more than just a simple stay-behind; it’s a structured plan designed to facilitate a smooth transition. While active transition duties are expected to conclude by November 1st, Mercier will remain available to guide the team through the extensive work ahead. This extended availability ensures that the deep institutional knowledge necessary for the next chapter of the company remains accessible.
Financially, the arrangement reflects the value of his experience. Mercier will continue to receive an annual base salary of €825,000, complemented by a fixed bonus of €290,000, alongside eligibility for certain October equity awards. This structure ensures that the departing leadership benefits from the ongoing strategic roadmap.
The strategic impetus behind this decision lies in significant internal changes. Coty is currently undertaking a major restructuring of its portfolio and balance sheet, including a strategic review of the Consumer Beauty division and the planned transition of the Gucci Beauty license back to Kering. These shifts require seasoned financial guidance to navigate successfully.
The continuity provided by Mercier is essential as the company navigates these complex financial adjustments. It allows the incoming leadership, including CFO Soraya Benchikh, to build upon established strategies while implementing necessary operational changes.
This commitment underscores Coty’s focus on stability during a period of transformation. Even as the company reports key financial metrics—including fiscal 2026 revenue of US$5.81 billion (down 2%), adjusted EBITDA of US$846.9 million, and financial net debt of US$2.91 billion—the focus remains on executing a coherent long-term strategy.
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