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Estee Lauder’s John Demsey attends the 2016 amfAR New York Gala at Cipriani Wall Avenue on February 10, 2016 in New York Metropolis.
Dimitrios Kambouris | Wireimage | Getty Photos
New York-based cosmetics firm Estee Lauder suspended John Demsey, an government group president, as a result of a latest Instagram publish that included a racial slur, in line with The Wall Avenue Journal.
The social media publish, which has since been faraway from Demsey’s private account, displayed a spoof e-book cowl of the TV present “Sesame Avenue,” and contained the N-word and jokes about Covid-19, stated the Journal.
“The content material posted doesn’t signify the values of The Estée Lauder Corporations,” the corporate stated in an inside memo obtained by the Journal.
Estee Lauder and John Demsey weren’t instantly accessible for remark when CNBC reached out.
Final Could, the chief marked 30 years at Estee Lauder. Demsey, who oversaw manufacturers like Mac and Clinique, was suspended with out pay, the report stated. The paper didn’t know the size of the suspension.
Estee Lauder shares closed Wednesday down 1.61%, at $290.93 a share.
Learn the WSJ article right here.
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