A Canadian judge ruled Friday morning to oust Deciem founder Brandon Truaxe.
The judge granted an injunction from the Estée Lauder Cos. Inc., searching for to have Truaxe removed and co-ceo Nicola Kilner appointed the only, interim ceo. The injunction followed Truaxe’s Monday Instagram post where he unilaterally shut down the business.
Tuesday, stores began closing, and Wednesday afternoon, Lauder — which owns a 28 percent stake within the business — filed for an injunction in Canada, searching for to oust Truaxe from the corporate’s board and his ceo position (he referred to himself as “employee,” not ceo). Andrew Ross, executive vice chairman of strategy and latest business development at Lauder, and Pasquale Cusano, are actually the corporate’s only board members.
Deciem is anticipated...
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