Estee Lauder Moves To Oust Deciem CEO Brandon Truaxe Over ‘Erratic, Offensive’ Behaviour

People look into a Deciem beauty supply store after the chain closed all locations unexpectedly, Toronto, Tues. October 9. Estee Lauder Companies Inc. is seeking to oust Deciem's founder.

TORONTO — Estee Lauder Companies Inc. is seeking to oust the founder of Toronto-based beauty brand Deciem, days after he abruptly announced on social media that he was closing down his company.

The New York City-based cosmetics giant — which holds one third of Deciem’s voting shares — is asking the Ontario Superior Court to remove Brandon Truaxe as chief executive officer and a member of the board of directors at Deciem, and to prevent him from “issuing statements or circulating media” on Deciem’s social media accounts and restricted from talking to the company’s employees, according to an Ontario court filing today.

“Truaxe has exhibited extremely erratic, disturbing and offensive behaviour in his role as president and chief executive officer over the course of this year,” Estee Lauder’s court filing said. “That behaviour was chaotic and harmed Deciem’s business and reputation.”

Also on HuffPost:

Estee Lauder’s legal actions were prompted by an Instagram video Truaxe posted over the weekend, where he said he is shutting down operations at Deciem, known as “the Abnormal Beauty Company,” until further notice. The company says the actions of Truaxe are “oppressive or unfairly prejudicial to or that unfairly disregards the interests of Estee Lauder.”

“Please take me seriously,” he said, in the video, where he does not give a clear reason for closing the company that has become a favourite of Kim Kardashian West and attracted a cult following with its inexpensive “The Ordinary” products. “Almost everyone at Deciem has been involved in a major criminal activity, which includes financial crimes and much other. You have no idea what a soldier I have been for 13 years.”

Estee Lauder’s lawyer Mark Gelowitz refused to comment on the filing that was also made against Integridad Inc., which holds two-thirds of Deciem’s outstanding voting shares, and Pasquale Cusano, a Deciem board member Estee Lauder said Truaxe once tried to replace with another employee. The filing does not outline what legal action is being taken against Cusano.

Deciem’s board consists of Truaxe, Cusano and Estee Lauder’s nominee Andrew Ross.

Earlier on HuffPost Canada:
Deciem Shuts All Stores As Founder Alleges ‘Major Criminal Activity’7 Fashion And Beauty Brands That Dug A Hole For Themselves In 2018

The allegations by Estee Lauder have not been proven in court. Truaxe and Deciem did not respond to multiple requests for comment, and efforts to contact Cusano and Ross have been unsuccessful. Truaxe posted a copy of …read more

Source:: The Huffington Post – Canada Business


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