Former CFO Says Lauder Heir Owes $6M In Severance

Law360, New York (August 17, 2011, 2:37 PM EDT) -- An ex-employee of Ronald Lauder, one of the world’s richest men and son of cosmetics legend Estee Lauder, sued his former boss in New York on Monday, alleging he was denied a promised severance package worth more than $6 million.

Jacob Z. Schuster said the billionaire philanthropist fired him without cause from his position of chief financial officer at RSL Management Corp., Lauder's management company, and abruptly terminated a written agreement between the two that guaranteed Schuster 10 years of severance pay worth $600,000 per year....
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