Estée Lauder Companies Names New CEO
The Estée Lauder Companies has announced that Stéphane de La Faverie will become president and chief executive officer starting January 1, 2025, and will join the company’s board of directors. This strategic move follows the retirement announcement of the current CEO, Fabrizio Freda, who has been a pivotal figure at the company for over sixteen years.
William P. Lauder will also step down from his role as executive chairman but will continue to serve as chair of the board of directors.
“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 revitalise growth,” said Charlene Barshefsky, presiding director of the board.
De La Faverie, currently the executive group president, has been an influential force within the company, known for his strategic vision and profound ambition, which have positioned him as the successor in a unanimous board decision. His leadership is expected to steer Estée Lauder through its current challenges and drive growth, leveraging his extensive experience spanning more than 25 years in the prestige beauty sector.
“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,” said de La Faverie. “As we work together to return to our pre-eminent position as the leader in global prestige beauty, we will draw on our family heritage, extraordinary brands, exceptional talent, consumer-centric approach and creativity – core elements that reflect our very DNA. We are extremely focused on revitalising our growth via groundbreaking innovation, unforgettable experiences, and cutting-edge marketing to inspire our consumers worldwide. I am grateful to Fabrizio for his strategic guidance, and I look forward to working with him on a seamless transition. It is an honour to advance this legacy of excellence.”
Under de La Faverie’s leadership, Estée Lauder aims to reinvigorate growth by leveraging its rich heritage and employing innovative strategies to meet the evolving demands of the global market.