Billionaire Nelson Peltz is exploring a possible shakeup at Estée Lauder that could include ousting the longtime CEO of the cosmetics giant — and possibly pushing for a turnaround and eventua…
Billionaire Nelson Peltz is exploring a possible shakeup at Estée Lauder that could include ousting the longtime CEO of the cosmetics giant — and possibly pushing for a turnaround and eventual sale of the company, The Post has learned.
“A number of directors and institutional investors think the CEO has lost his touch,” the source said. “They are now recruiting shareholder activists.”Estée Lauder’s share price fell 17% last Wednesday following a weak earnings report, stoking speculation that the New York- based cosmetics company is Peltz’s next activist play, the source said. The stock slightly rebounded by Friday’s close to $203.54 — but it was trading as high as $280 on Feb. 1.
“Buying Estée would give Arnault the biggest competitor to L’Oreal — and he hates L’Oreal,” a source close to the situation said.
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