This one definitely sounds too unusual. But there is an easy way to look at things.

Let us say that there is one unfaithful husband in the town. In such a case, 99 women will know about him. The wife of that man will be the only one who will not know about him and would have always thought that his husband is truly faithful to her. But since the mayor announced that there is at least one cheater among them, she will come to a realization that her husband must be cheating on her. So her husband will be executed on the first day of the announcement.

Now let us take up a case that there are two cheating husbands in the town. Now 98 women of the town must be knowing about them both. The two wives of those men will think that there is only one cheater in the town. Both of them believes that their respective husbands are loyal and this would not report about them

But when both of them will find out on the next day that no one was executed, they will realize that it could only mean that both of their husbands are cheaters. Thus both the husbands will be executed on the second day.

Thus if we have X number of cheating husbands, they all will die on the Xth day after the announcement is being made.