MAM
TVS Electronics announces key hires to drive integrated end-to-end electronic solutions strategy
Mumbai: TVS Electronics Ltd (TVS-E), a leader in POS systems, warranty solutions, infra-managed services and end-of-life solutions, is pleased to announce the appointment of Srikaanth Viswanathan as vice president & CTO (products & solutions) and Sathya Doraisamy as chief business officer – electronics manufacturing services (EMS). These strategic moves underline TVS-E’s foray into EMS and its focus toward offering a robust integrated end-to-end electronics solution covering: design, manufacturing, sales / distribution network, customer service, field support services (FSS), infrastructure management solutions and end-of-life solutions.
A seasoned R&D professional, Srikaanth Viswanathan will spearhead the research and development and new product development initiatives at TVS Electronics. Bringing over 25 years of diverse experience in technology development, product/solutions development, and leadership across organizations like Philips, GE Healthcare and Honeywell. Srikaanth’s extensive expertise will play an integral role in shaping the transformation journey of TVS Electronics.
Sathya Doraisamy will focus on further strengthening the electronics manufacturing services (EMS) of TVS Electronics, facilitating the business expansion and creating strong synergies with existing and new customers. With over 20 years of experience and several leadership roles of multi-plant operations, EMS business leadership, product management and business development globally with companies including Harman Inc, Centum Electronics, ZF, Marquardt among others, he brings a wealth of immeasurable insights to enable the growth of TVS Electronics.
Commenting on the strengthening of the leadership team at TVS Electronics, TVS Electronics MD Srilalitha Gopal said, “We are happy to welcome both Srikaanth Viswanathan and Sathya Doraisamy to our leadership team. Their presence will be instrumental in helping achieve TVS Electronics’ mission to becoming a leading integrated end-to-end electronics solutions player, providing brands with comprehensive electronics solutions to meet their evolving industry needs.”
TVS Electronics is currently focusing on solutions for all retail formats, including software solutions, to address the growing retail sector. With local value addition already at 50 per cent, the company aims to build solutions that cater to the specific needs of the market. This move of strengthening the leadership team comes as the company aims to meet the increasing demand for comprehensive electronics solutions in various industries.
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.
