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Stock impact report

Estée Lauder wins bid to remove CEO from Toronto’s Deciem after ‘erratic behaviour’ [Toronto Globe and Mail (Ontario, Canada)]

Estee Lauder Companies, Inc. (The) (EL) 
Last estee lauder companies, inc. (the) earnings: 5/1 06:45 am Check Earnings Report
US:NYSE Investor Relations: elcompanies.com/investors
Open this photo in gallery People react as they look outside a closed Deciem store in Toronto after its founder Brandon Truaxe ordered employees to shut down stores at all locations, Oct. 9, 2018. Nathan Denette/The Canadian Press An Ontario court granted a request from Estée Lauder Cos. Inc. to remove Deciem Beauty Group Inc. founder Brandon Truaxe from the Toronto-based skincare company on an interim basis. Deciem owns a handful of beauty brands and became a cult hit after it launched The Ordinary line in 2016. Deciem eschews traditional marketing, allowing it to avoid charging the markups that its competitors do. The company employs approximately 400 people in Canada. But Mr. Truaxe’s actions have thrown Deciem into chaos. In the past year, he cut ties with a business partner (in an Instagram post) and unilaterally fired co-chief executive Nicola Kilner, only to bring her back a few months later. Many of his Instagram posts from Dec Show less Read more
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