Deciem Founder Brandon Truaxe Ousted From Skincare Company
HE’S OUT
After he announced the company would be shutting down on social media this week.
Instagram/@deciem
Popular skincare company Deciem will resume operations after an Ontario Superior Court judge removed founder and CEO Brandon Truaxe from the company in a Friday ruling. The Business of Fashion reports that Estée Lauder Companies, which owns 28 percent of the company, filed an injunction Thursday to oust Truaxe after he posted on social media earlier this week that he would be immediately shutting down the company. He reportedly ordered store branches to close and shut down the website. Business of Fashion reports Truaxe is now “stripped from any role as an officer or employee at the company” and is barred from taking “any actions pertaining to the operations of Deciem.” Co-chief executive Nicola Kilner has reportedly been appointed interim CEO. “We are pleased with the court’s decision today, and will be working closely with Deciem’s leadership team to support and guide them as they resume operations and continue to provide consumers with the products that they know and love,” an Estée Lauder Companies spokeswoman said.
