MAM
Amagi names Deepakjit Singh as CEO
MUMBAI: Amagi, , today announced that it has named Deepakjit Singh as its Chief Executive Officer. With nearly 30 years of experience in broadcast technology – including executive positions at Encompass, Ascent Media, Bharti Airtel and BT – Deepakjit has been brought in to increase the footprint of Amagi across the globe. He will be closely working with the team to continue and expedite its impressive growth trajectory, particularly in the U.S. where the company expects rapid growth this year following its official launch in the region in late 2017.
“Deepakjit is one of the most well-regarded leaders in broadcast technology today,” said K.A. Srinivasan, Co-Founder of Amagi. “And, he will be a huge part of helping Amagi build upon its global success, especially within the U.S. and other rapidly evolving markets. We are really excited to have him on board.”
Amagi is a first-of-its-kind, true end-to-end cloud playout and managed services provider. Amagi’s products, based on ‘in-the-cloud’ technology and infrastructure, make it possible for content providers to reach their consumers anywhere across the world and on any device of consumer’s choice without the upfront expense of satellite or fiber-based delivery. Content creators can use Amagi’s CLOUDPORT to easily spin up new channels and deliver them to any location, using the cloud, which delivers tremendous benefits in terms of worldwide manageability and cost savings.
“Amagi’s technology is second to none,” said Deepakjit Singh. “Globally, there is a huge void in the media industry to provide distribution capabilities to content owners for both linear TV and non-linear video consumption market. With its technology, Amagi is perfectly positioned to fill this gap, delivering enviable business outcomes to broadcasters addressing their playout operations, management and monetization needs. I’m thrilled to spearhead Amagi’s growth and position into being the technology and service provider of choice for the new-age – anywhere, anytime – content consumer.”
Prior to joining Amagi, Deepakjit served as Chief Innovation Officer at Encompass, and Managing Director for APAC region where he grew the company’s business exponentially. Earlier, Deepakjit served as VP of Sales and Marketing at Ascent Media following a stint as SVP at Bharti Airtel.
Founded in 2008, Amagi offers cloud-managed broadcast services and targeted advertising for TV and OTT, enabling TV networks to launch, operate, and monetize channels anywhere in the world. Amagi now has deployments in more than 40 countries and delivers over 100 feeds to audiences worldwide. Clients include industry heavyweights such as Turner, VICELAND, Scripps Networks, Cinedigm and more.
“The US is an incredibly attractive and competitive marketplace, and it augurs well that we have hit the ground running in the region, thus far. We expect over a third of our revenue to come from the US market in 2018, so continuing our growth here will be huge moving forward. And with Deepakjit now in the fold, we believe we are in an even better place to continue our success worldwide in 2018,” added Srinivasan.
For more information about Amagi and its cloud-based broadcast solutions, visit www.amagi.com.
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.
