MAM
Hero Realty names Rohit Kishore as new CEO to drive growth
Hero Realty has announced the appointment of Rohit Kishore as its new chief executive officer. With over two decades of experience in real estate, he brings strategic expertise to support the company’s expansion and innovation.
“We are truly privileged to welcome Rohit Kishore to Hero Realty. His impressive track record of success, along with his deep industry expertise and strategic vision, will be crucial as we continue our journey of sustained growth and evolution. We are confident that under his visionary management, Hero Realty will reach new milestones and strengthen its position at the forefront of the real estate sector, setting unmatched standards of innovation, excellence, and market management,” said Hero Enterprise head HR Amarendra Mishra.
Kishore said, “I am honored to join Hero Realty at such a pivotal time in its journey. The company has established an impressive legacy of excellence in the real estate sector. I look forward to collaborating with this talented team to elevate Hero Realty to new heights. Together, we will redefine industry standards, create lasting value for our stakeholders, and strengthen Hero Realty’s position as a head in shaping the future of real estate.”
He was CEO at Eldeco Properties, where he played a key role in driving growth and delivering landmark projects. Previously, he held key positions at Lotus Greens Developers, MARS Development, M3M India, and Bharti Realty, gaining expertise in business development, financial planning, and large-scale project execution. Kishore will now oversee strategic initiatives to enhance operations, customer experience, and the company’s market presence at Hero Realty.
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.
