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Coty Cuts Executive Salaries by 25%, as Coronavirus Impacts Business

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Coty expects a 20 percent sales dip in the upcoming quarter, due to coronavirus. 🔐

Coty Inc. is cutting the salaries of its chief executive officer, chief financial officer and all non-employee directors by 25 percent, as the coronavirus pandemic continues to affect business.

Coty said it expected a 20 percent decline in sales in the third fiscal quarter, but that it was trying to make up for some of those declines with plans to push harder with Amazon and launch Kylie Jenner’s Kylie Skin in Europe.

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