As early as Friday morning, Deciem founder Brandon Truaxe may be out of a job.
On Friday, Deciem and the Estée Lauder Cos. Inc. are heading to a 10 a.m. hearing in the Ontario Supreme Court where a judge will decide whether or not to sign Lauder’s request for an injunction that would remove Truaxe from his roles as chief executive officer and board member at Deciem. The hearing could also be extended and adjourned.
Deciem co-ceo Nicola Kilner, founder Brandon Truaxe and Estée Lauder ceo Fabrizio Freda after Lauder invested in the business in 2017.
Lauder, which owns 28 percent of Deciem, filed the injunction forms Wednesday afternoon, asking for co-ceo Nicola Kilner to be appointed the sole head of the company. Earlier in the week, Truaxe publicly called for Deciem’s closure. According to court papers, he also sent out an e-mail blast Monday firing Kilner and chief financial officer Anand Khanzode.
On Instagram, Truaxe said, “This is the final post of Deciem, which will shut down all operations until further notice, which is about two months…Please take me seriously…Almost everyone at Deciem has been involved in a major criminal activity, which includes financial crimes.” Lauder’s injunction also asks the