Estée Lauder Embarks on New Chapter with President & CEO Transition

The Estée Lauder Companies (ELC) has revealed that William Lauder will step down from his current role as Executive Chairman following the upcoming Annual Meeting of Stockholders, although he will remain Chair of the Board. The company also announced Stéphane de La Faverie’s appointment as President, Chief Executive Officer, and member of the Board, effective January 1, 2025.

Currently serving as Executive Group President, de La Faverie will succeed Fabrizio Freda, who, after a 16-year tenure, recently announced his decision to retire. Freda will stay on in the coming months to aid in a smooth transition. Upon assuming the role, de La Faverie will report directly to the Board.

William Lauder expressed confidence in de La Faverie’s industry expertise and collaborative approach, citing his understanding of the company’s heritage and his dedication to brand growth as qualities positioning him well for the role. Lauder also reflected on his years with Freda and conveyed pride in the company’s accomplishments, noting that his transition to focusing on the strategic direction of ELC marks an important evolution for the Lauder family. He affirmed the family’s ongoing commitment to ELC, emphasizing a perspective of long-term growth.

De La Faverie conveyed his enthusiasm about leading ELC and shared that he felt honored to continue building on the legacy of the company’s founder. He acknowledged the unique strengths of ELC’s heritage, brands, and talented teams, expressing eagerness to revitalize growth through innovation, consumer-focused strategies, and marketing excellence. He also extended gratitude to Freda for his leadership and support during the transition.

Bringing over 25 years of prestige beauty industry experience, de La Faverie has played a pivotal role in overseeing ELC’s portfolio, which includes Estée Lauder, Jo Malone London, The Ordinary, and Le Labo. Known for his focus on growth and operational efficiency, he has been integral to the company’s Profit Recovery and Growth Plan. Earlier in his career at ELC, he led the flagship Estée Lauder brand, introducing strategies that expanded its appeal, particularly among younger and Chinese consumers, through digital-first initiatives and data-driven marketing.

Charlene Barshefsky, Presiding Director of the Board, described de La Faverie as the transformative leader ELC needs, noting that he was the Board’s clear choice after a comprehensive succession planning process. She emphasized his combination of strategic vision, industry knowledge, and leadership ability as crucial for guiding ELC through current challenges and toward sustained growth.

Freda also voiced enthusiasm for de La Faverie’s appointment, expressing confidence in his capability to shape ELC’s future with his visionary leadership, brand-focused approach, and emphasis on enhancing consumer experiences.

With a broad understanding of global markets, de La Faverie has built strong relationships with key industry players, positioning him to lead ELC into its next strategic phase. Before joining ELC, he held leadership roles at L’Oréal, including General Manager of Giorgio Armani Beauty USA, and managed the Lancôme, Giorgio Armani, Ralph Lauren, and Biotherm brands in North America for L’Oréal’s Travel Retail division.

Have you read?
The Top 100 Highest-paid CEOs in America.
Countries With Lowest Rate of Economic Growth in 5 Years.
Countries Most in Debt to China.
Most Attractive Cities for Global Talent.
Largest economies in the world by Share of Global GDP.