• Coty Inc. is getting its third new CEO this year: longtime L'Oreal veteran Sue Nabi.
• Nabi served as president of both L'Oreal and Lancome and also founded the skincare business Orveda.
• She replaces Peter Harf, who will stay on as the brand's executive chairman.
• Visit Business Insider's homepage for more stories.

• Tesla is paying CEO Elon Musk $1 million to insure its board against lawsuits for up to $100 million, SEC filings revealed on Tuesday.
• Tesla announced in April Musk would be personally insuring its board because it said it couldn't find a reasonable quote from an insurance company.
• Investor adviser PIRC on Tuesday separately recommended Tesla shareholders vote Musk out as CEO over his prospective $55.8 billion bonus pay package...

• A Tesla shareholder has proposed that the company spend money on advertising for the first time in its history.
• Investors will vote on the matter in July at the company's annual meeting, but it's not likely to pass.
• Even without ads, Tesla is worth more than most other traditional automakers and demand has largely outpaced production...

• WeWork's board is set to vote on Friday to add two temporary independent directors to the SoftBank-controlled board.
• The duo, who bring deep business and legal expertise, would decide whether the current lawsuit against SoftBank can continue.
• A pair of current board members – the only non-SoftBank-affiliated directors – contested the additions in court on Wednesday, arguing that the process would hurt WeWork's minority shareholders...

• Facebook is holding its annual shareholder meeting on Wednesday.
• Due to the pandemic, the meeting will be virtual for the first time.
• Shareholders are calling for Zuckerberg to relinquish his position as board chair and appoint an independent figure to the role.
• But Zuckerberg's total control of the company through his shares makes the proposal certain to fail.
• Facebook has talked about the importance of independent oversight in other areas, but Zuckerberg has the final say...

• Dr Moncef Slaoui, a former pharma executive, was announced last week as a lead figure in President Donald Trump's push for a coronavirus vaccine.
• Slaoui resigned as a director of the company Moderna — which is trialing one vaccine — to take the position.
• However, he continues to hold stock options worth more than $10 million in Moderna, which has seen its stock price skyrocket in recent months...

Facebook's board of directors has formed a formal privacy committee, as required under the company's settlement with federal regulators after the Cambridge Analytica scandal...

• Sycamore Partners will not acquire a majority stake in Victoria's Secret, according to a statement from L Brands on Monday.
• The private equity firm had valued the lingerie brand at $1.1 billion in February, and planned to acquire a majority stake.
• In April, Sycamore filed suit against L Brands, arguing that Victoria's Secret's response to the coronavirus pandemic had constituted a breach of contract...

• Tesla said Tuesday that CEO Elon Musk is insuring company directors, citing high premiums from insurance companies.
• The billionaire pledged 54% of his stake in Tesla to make the offering, up from 40% in 2018.
• No stranger to high insurance costs, Tesla last year launched an insurance offering for owners in California.

• Former T-Mobile CEO John Legere has resigned from the company's board of directors on Friday, according to an SEC report filed by T-Mobile.
• The abrupt announcement will cut short the remainder of Legere's time in the company by more than a month, as Legere was set to continue as a member of the board until June 4...

• Tesla announced Thursday that it is appointing Hiro Mizuno to its board of directors.
• Mizuno was most recently the chief investment officer of Japan's $1.5 trillion government pension fund, the largest such retirement pool in the world.
• The former investment banker's appointment as a director could mark an end to a tumultuous year-and-a-half for Elon Musk's board of directors...

• Shake Shack is returning the $10 million US government loan it received as part of the coronavirus stimulus package after facing criticism for taking money meant for struggling small businesses.
• Less than two weeks after the Paycheck Protection Program was introduced, the government department in charge ran out of money, and small business owners complained about being frozen out of the package...

• Airbnb is facing a big challenge thanks to the coronavirus pandemic, which has led to a deep decline in the travel industry.
• The crisis poses a big test for CEO Brian Chesky, who's largely a self-taught manager and has little experience to draw from in terms of guiding a big company through an economic crisis.
• Fortunately for Chesky, Airbnb's board is comprised of seasoned executives who have led companies through similar challenges...

• Zoom is reportedly being sued by one of its own shareholders for allegedly hiding security flaws in its app.
• Bloomberg reports that shareholder Michael Drieu filed a class-action lawsuit Tuesday in a San Francisco federal court, claiming revelations about Zoom's deficiencies affected its stock price.
• The videoconferencing service has come under fire this month over multiple security-related issues, despite seeing a surge in use amid the coronavirus crisis...

• Jamie Dimon's annual letter to JPMorgan Chase shareholders was published Monday.
• While it focused primarily on the coronavirus pandemic's effect on the financial institution, it also included a section about the company's diversity and inclusion efforts.
• The section acknowledges a 2019 report by the New York Times alleging racial discrimination at the bank...

• On an investor call on Thursday, Marriott announced that it will suspend the salaries of its CEO and Executive Chairman for the remainder of 2020 to cut costs amid global hotel closings and low occupancies due to the coronavirus pandemic.
• Marriott will also reduce the salaries of top executives by 50%.
• Marriott expects to furlough tens of thousands of employees in the coming weeks, Craig Karmin reported for the Wall Street Journal.

Best Buy said Tuesday that its CEO, Corie Barry, will remain in her role following an investigation into allegations that she had an inappropriate relationship with a fellow executive...

• Warren Buffett turned down the chance to buy Tiffany & Co. and conclude his Berkshire Hathaway conglomerate's four-year stretch without a major acquisition.
• After Tiffany's received a takeover bid from LVMH, the jewelry giant invited Buffett to make a counteroffer but he declined, the Financial Times reported...

• WeWork is changing its employee compensation, per an email sent to staff Thursday by its new head of people that Business Insider obtained.
• The package includes base salary, an annual cash bonus, and annual equity grants. Previously, employees had equity but not through an annual grant system.
• WeWork plans to hire more next year, and the package is intended to both attract new talent and retain existing employees after a tumultuous fall...

• WeWork Chairman Marcelo Claure shared his pasta-tasting outing at a high-end New York City restaurant on social media a day after the embattled startup began massive layoffs.
• Marcelo, who was formerly chief operating officer, was installed as executive chairman to oversee the company's turnaround...

• Oracle is considering naming a president who could be groomed to replace Mark Hurd, the tech giant's co-CEO who died last month, according to a Bloomberg report.
• Oracle had said it plans to maintain its dual CEO structure, but the company is now planning to name a president first to give that executive time to grow into the role, the report said.
• Hurd died last month after taking a leave for medical reasons, leaving Safra Catz as Oracle's sole CEO...

• McDonald's CEO Steve Easterbrook's termination as CEO following a relationship with a female coworker earlier in November sent shock waves through the massive fast-food chain.
• Easterbrook was successful, well-liked, and respected at McDonald's, making his abrupt firing even more shocking and embarrassing for the company, employees and franchisees told Business Insider...

• A former employee is taking WeWork to court over cofounder Adam Neumann's reported $1.7 billion golden parachute.
• Natalie Sojka's lawsuit accuses Neumann and other WeWork directors of benefiting themselves at the expense of minority shareholders as their actions have "eviscerated" the value of WeWork stock and stock options...

• Google parent Alphabet's board is looking into the company's handling of sexual misconduct allegations, according to CNBC.
• It's formed a special committee to look into the matter and has hired an outside law firm to help out with the investigation, according to the report...