Leadership Changes - Sue Nabi is stepping down as CEO of Coty, with Markus Strobel appointed as interim CEO and executive chairman of the board [1][3] - Strobel has a 33-year background at Procter & Gamble, where he held senior roles in beauty and grooming, including leading prestigious brands [2][3] Financial Implications - Shares of Coty closed down 3.5% to $3.15 following the announcement of leadership changes [2] - Strobel's annual base salary is set at $1.25 million, which will decrease to $1 million once he is no longer interim CEO, along with a one-time cash sign-on bonus of $940,000 [4] Executive Compensation - Nabi was the highest-paid beauty executive in the U.S. in 2023, with total compensation of $149.4 million [5] - Upon her departure, Nabi will receive approximately $1.74 million in cash and the vesting of about 2,083,333 restricted stock units [6] Strategic Challenges - Coty is facing significant challenges, including the impending loss of the Gucci license for fragrance and beauty in 2028, which currently contributes about 8% of Coty's sales and 11% of its profits [7]