Activist Nelson Peltz said to be targeting Estee Lauder – report (NYSE:EL)

Billionaire and activist investor Nelson Peltz is said to be looking to engineer a shakeup at Estee Lauder (NYSE:EL), including the removal of CEO Fabrizio Freda.

Peltz appears to be evaluating pursuing a shareholder campaign to remove Freda, according to a NY Post report on Sunday, which cited people familiar. Peltz may also be looking ultimately for an eventual sale of the $72 billion cosmetics giant.