MAM
Zoomcar appoints Adarsh Menon as president
Mumbai: Zoomcar Holdings, Inc (Nasdaq: ZCAR), the leading marketplace for car sharing in emerging markets, has announced the appointment of Adarsh Menon as its president to lead its business. This announcement follows Zoomcar’s recent listing on NASDAQ following closing of its business combination. In his new role, Adarsh will be responsible for all aspects of growth, operations, and customer experience for the company.
Adarsh is a seasoned industry leader with over 22 years of experience and has joined Zoomcar after an eight-and-a-half-year stint with Flipkart and a twelve-year stint with Hindustan Unilever. In his last role at Flipkart, Adarsh was heading all Flipkart’s new businesses – ClearTrip (Travel ECom), Shopsy (Hypervalue ECom) and ReCommerce (Used Goods ECom) – a new and high-growth mandate comprising of independent diverse businesses newly acquired or launched.
From leading M&A to scaling multi-billion-dollar businesses, Adarsh has a strong track record in leading businesses of various life stages by building strong revenue moats, profit pools and alliances.
He has built and led large high-performing, engaged and agile cross-functional teams and has mentored and groomed several industry leaders. He enjoys solving the complex problems associated with scaling up businesses to positions of dominance in India. He is passionate about leveraging technology to solve problems for India & Indian customers.
Zoomcar CEO and co-founder Greg Moran said “Adarsh’s diverse skillsets and seasoned leadership will play an instrumental role in continuing to scale our business. I am confident that in his new role he will help excellently position the company as we embark on reaching new heights for our emerging market-focused peer2peer car sharing platform.”
Zoomcar India president Adarsh Menon added “I am very excited to be leading Zoomcar’s business at this important new phase. At Zoomcar, we’re currently sitting on the cusp of a dramatic transformation within personal mobility, and I look forward to working closely with Greg and the broader Zoomcar team to help the company reach new heights.”
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.
