- Estee Lauder's executive group president, John Demsey, was suspended without pay over a recent Instagram post that included a racial slur, according to an internal memo viewed by the Wall Street Journal.
- The Journal reported Demsey's post made jokes related to Covid-19.
- Last May, the executive marked 30 years at the New York-based cosmetic company.
The social media post, which has since been removed from Demsey's personal account, displayed a spoof book cover of the TV show "Sesame Street," and contained the N-word and jokes about Covid-19, said the Journal.
"The content posted does not represent the values of The Estée Lauder Companies," the company said in an internal memo obtained by the Journal.
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Estee Lauder and John Demsey were not immediately available for comment when CNBC reached out.
Last May, the executive marked 30 years at Estee Lauder. Demsey, who oversaw brands like Mac and Clinique, was suspended without pay, the report said. The paper did not know the length of the suspension.
Estee Lauder shares closed Wednesday down 1.61%, at $290.93 a share.