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Billionaire and activist investor Nelson Peltz is reportedly looking to engineer a makeover at Estee Lauder (New York Stock Exchange: EL), including the impeachment of CEO Fabrizio Freda.
Peltz appears to be assessing the follow-up of the contributors’ campaign to remove Frieda, according to A New York Post report on Sunday, which cited familiar people. Peltz may also be eyeing an eventual sale of the $72 billion cosmetics giant.
It was not immediately known if Peltz acquired shares in Estee Lauder (EL), according to the NY Post report. Peltz declined to comment when the post arrived.
French luxury company LVMH (OTCPK: LVMHF) has in the past indicated to the Lauder family controlling the company that it would be interested in buying Estee Lauder (EL) if it was ever offered for sale, the New York Post said, citing people familiar with the talks.
Peltz’s potential activist campaign follows Estee Lauder (EL) engagement down 17% on Wednesday after the cosmetics company lowered its guidance for the full year. The cut in guidance was due in large part to the weakness of the travel market in Asia.
More on Estee Lauder
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