Algerian-born French beauty mogul Sue Nabi , chief executive of Coty Inc., has seen the market value of her stake in the beauty company drop sharply as shares fell on the New York Stock Exchange, hitting one of the industrys high-profile executives.
Nabis Coty shares drop 38 million
Nabi owns 3.7 percent of Coty, or roughly 31.88 million shares. Over the past 67 days, the market value of her holding declined by 38.56 million, sliding from 164.12 million on July 28 to 125.56 million. The drop comes amid wider market volatility and growing investor skepticism about Cotys growth prospects.