Stéphane de La Faverie to succeed Fabrizio Freda as Estée Lauder’s new CEO
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Estée Lauder has announced the appointment of Stéphane de La Faverie as its new president and chief executive officer and member of its board of directors, effective January 1, 2025.
The company said in a statement that de La Faverie will succeed Fabrizio Freda, who announced his intention to retire earlier this year after more than sixteen years with the company. de La Faverie will report directly to the company’s board of directors.
Additionally, the company added that William P. Lauder will be stepping down from his current role as executive chairman of the company and will remain chair of the board, following the company’s upcoming annual meeting of stockholders.
Estée Lauder gets a new CEO
Regarding de La Faverie’s appointment, Lauder said: “Stéphane’s deep-rooted industry and operational expertise, and his collaborative and dynamic approach, make him the ideal CEO to move us forward with speed, and urgency.”
“As I reflect on sixteen years of working alongside Fabrizio and so many talented leaders and employees, I am immensely proud of what we have accomplished. My decision to focus solely on my role as chair of the board represents an important evolution for the Lauder family,” Lauder added.
The company further said that with more than 25 years of prestige beauty experience, de La Faverie joined the company in 2011 and currently serves as executive group president, overseeing many of the company's brands across its portfolio, from billion-dollar-plus brands such as Estée Lauder to scaling and developing brands including Jo Malone London, The Ordinary, and Le Labo. Prior to his current role, he led the Estée Lauder brand.
On his appointment, de La Faverie said: “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. I am grateful to Fabrizio for his strategic guidance, and I look forward to working with him on a seamless transition.”