MAM
AET Global entrusts Su Piow Ko, VP of AET Global, With an additional charge as the CEO of India
Mumbai: AET Displays, a renowned industry expert in fine-pitch LED displays, has entrusted Su Piow Ko, vice president of AET Global, with an additional charge as the CEO for India. With over three decades of experience in LED technology, Ko brings a wealth of expertise to his new position.
Under his guidance, AET aims to push the boundaries of technological advancement, expand its market presence, optimize after-sales support services, and forge strategic partnerships that drive sustainable growth in India. Having officially entered the Indian market on October 26, 2023, AET expeditiously solidified its foothold, offering over 50 products and boasting more than 2000 installations nationwide. In addition, AET strategically operates one assembly plant, three offices, three customer experience centres, and five service centres throughout the country, ensuring extensive coverage and support for its clientele.
AET Global vice president Su Piow Ko expressed his enthusiasm about his new role, stating, “I am honoured to take on the responsibility of CEO, India, at AET. India presents immense opportunities for growth and innovation in the LED display industry, and I am excited to guide AET in achieving excellence and surpassing customer expectations in this dynamic market. My vision extends beyond establishing AET as a leader in the LED sector in India; I am also dedicated to bolstering the nation’s economy through our commitment to local manufacturing.”
Ko’s journey in the LED technology sector began over 30 years ago, quickly ascending through the ranks on account of his outstanding leadership skills and technical proficiency. His 7-year tenure at Siemens as a Senior Production Operation Manager provided him with invaluable experience in managing large-scale manufacturing operations and optimizing efficiency.
Prashant Srivastava, head of international marketing, praised Su Piow Ko’s appointment, affirming, “Su Piow Ko’s demonstrated leadership and comprehensive understanding of market dynamics make him a valuable asset to AET’s strategy in India. His forward-thinking approach will enable us to promptly adapt to market fluctuations and capitalize on emerging trends, ensuring enduring success in India’s competitive LED arena. With his years of knowledge and experience, I am confident that AET India will benefit from his ability to cultivate a collaborative and respectful culture, fostering innovation and productivity among the team.”
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
