Estée Lauder has fired one of its senior executives after he had posted an offensive meme on Instagram that contained a racial slur. The world's largest cosmetic company announced that it had fired John Demsey, an executive who has worked for the company for more than three decades.

In a recent regulatory filing, Estée Lauder announced that Demsey would no longer be part of the company starting on March 4. The company said the decision to force Demsey to retire early was a result of a recent post he made on Instagram.

The company claimed that Demsey's post did not reflect the values of Estée Lauder, adding that it had caused "widespread offense. Estée Lauder said the company and its subsidiaries value inclusion, diversity, and quality. It added that over the past years, the company has worked with different rights organizations to advance racial equality.

Estée Lauder's executive chairman, William P. Lauder, and its CEO Fabrizio Freda confirmed that Demsey has already been informed that he must leave the company within the week. They added that the company would look into more ways where it can do better.

The more than 70-year-old cosmetics company owns several popular beauty brands, including Bobbi Brown, Mac, and Clinique. It also recently expanded into other segments, including perfumes, hair care, and skincare.

Demsey originally posted the meme last week. The meme contained a parody of a Sesame Street book cover. One of the characters in the meme was shown saying a racial slur while talking about a Chingy concert and the coronavirus. Demsey has since removed the post.

Sources said Estée Lauder had suspended Demsey after it was informed about his post. The company then launched an investigation into the matter before determining its next move.

Over the weekend, Demsey posted a lengthy apology on his Instagram account, stating that he was "terribly sorry" for sharing the meme. He said what the meme represented was the "furthest thing" from what he stood for. Demsey apologized to everyone that might have been offended and hurt by what he had posted while also admitting that what he did was a "terrible mistake."

Since the murder of George Floyd in 2020, many major companies and institutions have attempted to become more inclusive by changing their branding, marketing, and corporate language. Some companies have also launched campaigns to promote inclusivity, diversity, and equality, while others have committed to hiring more people of color and members of the LBGTQ community.