THE WHAT? Disgraced ELC executive, John Demsey has joined L Catterton as a Senior Advisor. The former Executive Group President left the US prestige giant under a cloud after posting controversial content on Instagram.
THE DETAILS The appointment has not been announced officially, but Demsey is now listed on L Catterton’s website. Both Demsey and L Catterton declined to comment when contacted by WWD.
Demsey signed a non-compete agreement with Lauder on his departure, which remains in place until March 2024. Presumably, then, Lauder has okayed the move.
THE WHY? LVMH’s private equity firm described Demsey as a ‘transformational business leader, builder and fashion/prestige beauty pioneer’. With rumors swirling around ELC’s future – activist Nelson Peltz is said to be pushing for a sale – could this appointment be more significant than it appears?