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Lauder Offers Marc Puig Co-Chairmanship of Merged Company, Report Says

WWD·Jennifer Weil·about 1 month ago
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PARIS – The Estée Lauder Cos. has offered Marc Puig , executive chairman of Puig , the co-chairmanship of the board of directors of their merged companies should a transaction go through, Spanish financial publication Expansión said on Thursday. William Lauder would be the other co-chairman, it said. A Puig spokeswoman had no comment on the report. A Lauder spokesperson could not immediately be reached for comment. Related Articles As previously reported, Lauder and Puig announced on March 23 that they are in talks to merge their businesses. If they do come together, the new beauty powerhouse would have just over $20 billion of estimated combined sales, making it the largest premium beauty player worldwide. On Tuesday, Jose Manuel Albesa, chief executive officer of Puig, speaking in a call with financial analysts and journalists to discuss first-quarter results, said conversations with Lauder  are ongoing , and that no final decision has been made.…

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