Coty Announces Gender-Neutral Parental Leave

Rhea-AI Summary

Coty (NYSE: COTY) has announced a new global gender-neutral parental leave policy effective November 1st, allowing all employees equal access to fully paid parental leave for family expansion via pregnancy, adoption, or surrogacy. This initiative aims to foster inclusivity and address gender stereotypes. Chief HR Officer Anne Jaeckin states that this aligns with Coty's corporate values, promoting diversity and gender equality. This policy strengthens existing leave commitments and adheres to local regulations, representing a significant step in Coty's commitment to workplace inclusivity.

Positive

• Implementation of a global gender-neutral parental leave policy promoting inclusivity.
• All employees, regardless of gender, will receive the same number of fully paid parental leave weeks, fostering equality.
• Supports Coty's values of diversity and gender equality in the workplace.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Today, Coty (NYSE: COTY), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care, announces the launch of a new global gender-neutral parental leave policy. Taking effect from November 1^st, all employees, regardless of gender, will have access to the same number of fully paid weeks of parental leave when starting or extending a family – whether through pregnancy, adoption, or surrogacy.

Anne Jaeckin, Coty’s Chief HR Officer, said: “In line with our new corporate purpose, vision, and values, we are dedicated to fostering an inclusive workplace for our people – and tackling outdated gender stereotypes. We hope that this new policy will make a meaningful difference for new parents and support them in this very important chapter of their lives.”

Building on Coty’s central value of Fearless Kindness, announced in October, the policy is a tangible step toward a more diverse, equitable, and inclusive Coty culture. This initiative will help to promote gender equality in pay and workplace advancement and give each Coty Associate the choice to grow their family in the way that is right for them.

The policy builds upon Coty’s existing maternity, paternity, adoption, and partner leave commitments, and will be guided by local regulations.

About Coty Inc.

Founded in Paris in 1904, Coty is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. Coty serves consumers around the world, selling prestige and mass market products in more than 130 countries and territories. Coty and our brands empower people to express themselves freely, creating their own visions of beauty; and we are committed to making a positive impact on the planet. Learn more at coty.com or on LinkedIn and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005434/en/

Media

Stephanie Taylor

Stephanie_Taylor@cotyinc.com

Source: Coty