Written on: October 31, 2024 by SprayTM
The Estée Lauder Cos. (ELC) announced that senior executive Stéphane de La Faverie has been selected to take over as President & CEO, effective Jan. 1, 2025. He will succeed Fabrizio Freda, who is retiring next year.
DE LA FAVERIE
With more than 25 years of prestige beauty experience, de La Faverie currently serves as Executive Group President, overseeing brands such as Estée Lauder, Jo Malone London, The Ordinary and Le Labo. Previously a senior executive at L’Oreal, he joined ELC in 2011.
“I am deeply humbled and excited to lead The Estée Lauder Companies, a company founded by a visionary entrepreneur whose legacy continues to inspire us today,” de La Faverie said.
Charlene Barshefsky, Presiding Director of the Board of Directors, shared, “Following a comprehensive CEO succession planning process, and a thorough review of external and internal candidates, Stéphane was the clear choice of the Board for his mix of strategic vision, global industry knowledge and experience, profound ambition for the Company and its remarkable brands, and unique ability to address the challenges facing the Company to revitalize growth.
The company also announced that William Lauder will be stepping down from his current role as Executive Chairman of ELC and will remain Chair of the Board of Directors.
LAUDER
Meanwhile, according to the Wall Street Journal, Jane Lauder, the granddaughter of the company’s namesake founder, told staff in a memo that she would step aside from her executive role at the company at the end of the year. Lauder, who was among the potential CEO candidates, has served as Chief Data Officer & Executive VP of Enterprise Marketing at her family’s corporation since 2020.
