MAM
Mercedes-Benz India appoints Dr Shyam Sunder as head of external affairs and corporate citizenship
Mumbai: India’s most desirable luxury car maker, Mercedes-Benz, today announced an organizational change in its External Affairs and Corporate Citizenship function. The company has appointed Dr Shyam Sunder as the head of external affairs and corporate citizenship, effective from 26 August 2024. Dr Shyam will report to Santosh Iyer, managing director & CEO. In his new role, Dr Shyam will lead Mercedes-Benz India’s government relations, public policy advocacy, and policy initiatives. He will foster close collaboration with policymakers and industry leaders, and work to build communities through Mercedes-Benz’s diverse corporate citizenship programmes.
Mercedes-Benz India managing director and CEO Santosh Iyer“We are delighted to welcome Dr. Shyam Sunder as the Head of External Affairs and Corporate Citizenship at Mercedes-Benz India. His extensive experience and deep understanding of external affairs will be invaluable in conveying our views to policymakers and actively participating in various industry associations. Dr. Shyam’s expertise aligns with our commitment to fostering close collaboration with policymakers and external stakeholders, and driving impactful corporate social initiatives at Mercedes-Benz.”
Dr Shyam Sunder holds a master’s degree in Econometrics and a Ph.D. in Economics. With an impressive career spanning approximately 24 years, he has held pivotal roles related to driving public policy & advocacy and Government engagements at prominent automotive OEMs in the past. He has also worked with the Federation of Indian Chambers of Commerce & Industry (FICCI), where he played a vital role in shaping public policy and fostering industry collaborations. His extensive expertise in public affairs, policy advocacy and strategic stakeholder engagements firmly underscores his adeptness in managing external affairs and navigating intricate regulatory landscapes for the company.
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.
