john demsey net worth
Who is Estée Lauder executive John Demsey?
JOHN Demsey works as the executive group president overseeing brands such every bit MAC and Clinique for Estée Lauder Cos.
He was reportedly fired from his position on February 28, 2022, following a controversial postal service on his personal Instagram account.
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Who is Estée Lauder executive John Demsey?
Born on March 17, 1956, John Demsey is a native of Ohio.
A graduate of both Stanford Academy and New York University's Stern Schoolhouse of Business, Demsey has worked in the earth of cosmetics since the 1980s.
After college, Demsey worked with Macy's, Bloomingdale's, and Saks 5th Avenue.
From 1988 until 1991, he worked every bit the Vice President of Sales with Revlon Inc., followed past a seven-year stint holding various positions at Estée Lauder.
Betwixt February 1998 and July 2006, Demsey served equally the Global President at MAC Cosmetics.
He was named as the Global President of Estée Lauder in 2006, afterward serving as Executive Group President.
Near read in The states News
Why was John Demsey fired from Estee Lauder?
Estee Lauder issued a letter to its employees worldwide announcing John Demsey had been fired.
The letter was signed by Executive Chairman William P. Lauder and President and Main Executive Officer Fabrizio Freda who wrote, "This decision is the upshot of his recent Instagram posts, which practice not reverberate the values of The Estée Lauder Companies, have caused widespread offense, are damaging to our efforts to drive inclusivity both inside and outside our walls, and do not reflect the judgment we look of our leaders.
"Inclusion, diversity, and equity are cadre to our company's values and priorities globally. Furthermore, over the by two years, we have worked together as an organisation to accelerate our arroyo to racial equity and have taken a hard look at where we can and should practise better.
"Together we are making progress against our commitments to our employees, our partners, and consumers."
Demsey has been fired after the Wall Street Journal reported on a controversial meme that was posted to Demsey'southward Instagram account.
Inside the photo was a spoof of a Sesame Street children's book, including both racial slurs and Covid-19 commentary.
He was initially suspended without pay and the epitome has since been deleted.
Demsey apologized on Instagram and said, "I am so terribly sorry and deeply ashamed that I hurt so many people when I made the horrible mistake of carelessly reporting a racist meme without reading it beforehand."
An Estee Lauder spokesperson told Bloomberg that Demsey was not fired but was "told he had to leave the company."
Demsey has not all the same commented but the spokesperson confirmed he had agreed to retire.
What is John Demsey's net worth?
According to Insider Trades, John Demsey had an estimated net worth of around $ii.5million in 2021.
The outlet reports Demsey owns over 8,000 shares in Estée Lauder Co.'due south stock.
The makeup executive has over 73.4k followers on Instagram.
More to follow...
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Source: https://www.thesun.co.uk/news/17749713/estee-lauder-executive-john-demsey/
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