Estee Lauder Companies board member Richard Parsons passes away

On December 26, 2024, Richard “Dick” D. Parsons, a long-serving member of The Estée Lauder Companies (ELC) board of directors, passed away.

For more than two decades, the company said in a statement, Parsons was a member of the company's board of directors, and a trusted advisor, mentor and friend to three generations of the Lauder family and company leadership.

On behalf of The Estee Lauder Companies’ board of directors, William P. Lauder said: “Dick was a sage counselor and steady hand providing more than two decades of service to our company and communities. Though we will miss him immensely, our company is better as a result of his committed service and the values he perfectly embodied: his humanity, his integrity, and his abiding optimism. We are deeply saddened by his passing, and forever grateful for his innumerable contributions.”

Parsons joined ELC’s board in 1999. A lawyer by training, he served as the former chairman of Citigroup, chairman and CEO of Time Warner, and an economic advisor to former US president Barack Obama. On ELC’s board, Parsons served on numerous committees over the years; most recently, acting as a member of the compensation committee and the nominating and ESG committee.

The company added that his extraordinary contributions in and through the private sector were matched by his longstanding commitments to social impact—commitments that complimented and strengthened its efforts at ELC.

“Dick understood that the most important responsibilities of leadership are to listen and to learn – qualities that are invaluable to any global company – thus enabling management at all levels to make the best decisions with the most impactful results. He was a true partner in every sense and his legacy will forever be remembered,” added Fabrizio Freda, president & CEO The Estee Lauder Companies.

Parson, a Brooklyn native was devoted to good works throughout his life; including, among many others, The Jazz Foundation of America, the historic Apollo Theater in Harlem, the Metropolitan Museum of Art, and the Smithsonian National Museum of African American History and Culture. Music, theater, dance, art, history, food—Parsons loved and celebrated the fullest range of the human experience and endeavor.

“In this difficult moment, our hearts are with Dick’s wife Laura, his three children, and the many lives he touched,” the company said.