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Rumors of Estée Lauder Shakeup Put to Rest

CNBC’s Jim Cramer claims Peltz has no intention of pursuing an overhaul at Estée Lauder and CEO Fabrizio Freda’s position is secure for now.

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By: Lianna Albrizio

Associate Editor

Yesterday, the New York Post reported that billionaire activist investor, Nelson Peltz, was reportedly exploring options for a potential shakeup at Estée Lauder, which could include the removal of CEO Fabrizio Freda. The Peltz rumors even saw ELC shares rally 5.1% in premarket trading on May 8.   However, later in the day, CNBC’s Jim Cramer disputed the New York Post’s story, which caused the stock to give back its early morning gains.   Cramer, who knows Peltz very well, claims ...

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