According to Business of Fashion, Nicola Kilner is stepping back as the CEO of Deciem, the company she co-founded with Brandon Truaxe in 2013 to house brands including The Ordinary, Niod, Hyalimde, The Chemistry and Hif, and sold to Estée Lauder Companies (ELC) in 2021.
Starting in December 2024, Kilner will hand over daily operation responsibilities to Jesper Rasmussen, who joined Deciem in July 2022 as global senior vice president and general manager. He will be promoted to global brand president, while Kilner will retain some duties in her role as co-founder.
Rasmussen has been at ELC since 2007; prior to that, he served as a commercial director at L'Oreal for seven years.
Kilner founded Deciem with Brandon Truaxe in 2013, and took over as the CEO after Truaxe died in 2019. Kilner then expanded the brand’s global footprint to include 38 brick-and-mortar stores and helped to propel its e-commerce growth.
In 2017, ELC invested in the brand, then took a majority stake in 2021. ELC paid for the remaining share of the company with cash on hand for an estimated $860 million, per the company, making for a total investment of about $1.7 billion.
