Estee Lauder exec fired over racist meme: WSJ

Estee Lauder Cos. EL, -1.94% has fired senior executive John Demsey, according to a report from The Wall Street Journal. Demsey was suspended last week after posting a racist Instagram meme on the social media site. Demsey has since apologized. Demsey had been with the company for 31 years and led beauty brands including Clinique and MAC. Estee Lauder stock is up 5.1% over the past year while the S&P 500 index SPX, -0.99% has gained 15.1%.