Estee Lauder’s Biggest Makeover Should Triple Innovation, Create ‘Flatter and Leaner’ Biz – CEO

New Estee Lauder President and CEO Stéphane de La Faverie unveils "Beauty Reimagined" restructuring effort to expand its recovery plan and unleash innovation to restore sustainable sales growth over next few years. The largest operational transformation in its history will include cutting up to 7,000 jobs and total charges of $1.2bn-$1.6bn, while grossing annual savings of $800m-$1bn.