Estée Lauder Companies Names Stéphane de La Faverie as President and CEO, Announces Leadership Changes

On October 29, 2024, Estée Lauder Companies Inc. (NYSE:EL) made key announcements regarding changes to its executive leadership team. The Board of Directors appointed Stéphane de La Faverie as the President and Chief Executive Officer, effective January 1, 2025. This decision marks a transition from the current President and CEO, Fabrizio Freda, who will step down from his roles and resign from the Board on December 31, 2024. Freda will continue as a Special Advisor to the company until his retirement on June 30, 2026.

In addition, William P. Lauder will be stepping down from his position as Executive Chairman following the Annual Meeting of Stockholders on November 8, 2024. While he will retire on March 1, 2025, Lauder will retain his role on the Company’s Board as Chair.

Stéphane de La Faverie, aged 50, has been a part of Estée Lauder Companies since January 2011. He currently holds the position of Executive Group President. As part of his appointment as President and CEO, de La Faverie will be a member of the Board, filling the vacancy left by Fabrizio Freda.

Both de La Faverie and Freda have signed amendments to their respective employment agreements to reflect the changes. De La Faverie’s agreement outlines his responsibilities, including a base salary, bonus opportunities, and equity grants, effective January 1, 2025.

Freda’s amendment stipulates that he will serve as a Special Advisor post his resignation as President and CEO until his retirement in 2026. During this period, his remuneration and benefit details remain mostly unchanged.

The arrangements for Mr. Lauder consist of a continuation of his compensation and benefits until his retirement on March 1, 2025. Post-retirement, Lauder will be compensated according to the Company’s non-employee director program, in addition to receiving an annual retainer for his role as Chair and office/administrative support.

Following these changes, Estée Lauder Companies remains committed to ensuring a smooth transition in leadership and maintaining its position within the industry.

For more detailed information regarding these executive changes, the complete 8-K SEC Filing can be accessed on the company’s website or through the Securities and Exchange Commission database.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Estée Lauder Companies’s 8K filing here.

Estée Lauder Companies Company Profile

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, and powders, as well as compacts, brushes, and other makeup tools.