THE WHAT? Renowned activist investor Nelson Peltz is known for shaking up board rooms across the FMCG industry and is now said to have set his sights firmly on The Estee Lauder Companies, according to a report published by The New York Post.

THE DETAILS Peltz is said to be gunning for a change at the top or even a potential sale, although The Post was unable to determine whether the renowned activist investor owns shares in the prestige beauty giant.

THE WHY? The Estee Lauder Companies was hit hard by the pandemic, which wiped out its two major growth markets: China and Travel Retail. Its latest set of results sent shares tumbling 17 percent and led Lauder to slash its sales forecast for the fiscal year from a 5 percent to 7 percent drop to a 10 percent to 12 percent fall.