THE WHAT? Puig has reshuffled its board following the early resignation of long-standing director Josep Oliu.

THE DETAILS Oliu, chairman of Banc Sabadell, stepped down seven months before the end of his term after serving on Puig’s board since 2002. His departure comes as the Spanish fragrance and cosmetics group explores a potential merger with Estée Lauder. Puig is reportedly considering CEO José Manuel Albesa—recently appointed as the company’s first non-family chief executive—to take his place. The changes follow a broader governance shift separating the roles of chairman and CEO, with Marc Puig remaining as chairman.

THE WHY?  The move reflects ongoing governance adjustments as Puig positions itself for potential strategic transformation, including merger discussions that could significantly reshape its market standing.

Source: modaes