Beauty / article
Beauty’s Q2 2026 Executive Shuffle: Layoffs, Leadership Changes at Estée Lauder, L’Oréal, P&G, CVS
Major beauty and consumer goods companies reshuffled leadership in the second quarter of 2026, with layoffs at Estée Lauder and Evonik, a P&G executive overhaul, and new appointments at Estée Lauder and L’Oréal Canada.
The beauty industry saw a wave of executive moves in Q2 2026, including layoffs and leadership changes at Estée Lauder Companies, Procter & Gamble, CVS Health, and L’Oréal Canada.
Estée Lauder Companies is eliminating jobs as part of a broader restructuring, while specialty chemicals supplier Evonik announced plans to cut 3,200 positions globally between 2027 and 2029 under an expanded efficiency program.
Procter & Gamble reshuffled leadership across four of its five business segments as part of a broader executive transition under CEO Shailesh Jejurikar. At CVS Health, Musab Balbale departed after four years as chief merchandising officer.
Estée Lauder Companies created a new Fragrance Cluster in North America, appointing Vérane de Marffy as senior vice president and general manager of fragrances for the region. De Marffy previously served as chief marketing officer for William Grant & Sons in the U.S. and spent 22 years at L’Oréal.
L’Oréal Canada named Stéphane Bérubé president and CEO, marking the first time a Canadian has led the subsidiary. Bérubé joined L’Oréal in 2002 as brand director for Maybelline New York Canada and later held roles including general manager of L’Oréal Paris Canada and chief marketing officer of the Canadian unit.