The Estée Lauder Companies (ELC) has announced William Lauder will step down from his current role as Executive Chairman following the company’s upcoming Annual Meeting of Stockholders. He will continue as Chair of the Board of Directors.
ELC has also announced the appointment of Stéphane de La Faverie as President and Chief Executive Officer, and member of the Board of Directors, effective 1 January 2025.
De La Faverie, currently Executive Group President, will succeed Fabrizio Freda, who previously announced his decision to retire after a distinguished 16-year tenure with the company. Freda will remain with ELC during the coming months to facilitate a smooth leadership transition. Upon assuming his new role, de La Faverie will report directly to the company’s Board of Directors.
Regarding de La Faverie’s appointment, William 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.
“Having worked closely with him for many years, I can attest to Stéphane’s ability to nurture and build powerful prestige brands, while his thorough understanding of and respect for our company’s heritage and culture positions him well for success in this role.
“His strategic vision will position the company to drive long-term growth in the face of its current challenges, as he deploys transformational new approaches for the future. This appointment marks an exciting new chapter in our company’s story, and I look forward to supporting Stéphane as he leads the many talented employees of The Estée Lauder Companies and accelerates us along our path to a promising future.”
Lauder continued: “As I reflect on 16 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.
“Our family’s long-standing day-to-day management of the company is evolving and reflects my desire to focus more on the overall strategic direction of the company. As a family, we remain committed to this incredible company and continue to view our investment through the lens of long-term patient capital.
“I am confident that Stéphane will be an effective, impactful CEO, able to take the decisive actions needed in the face of our current challenges, and that he and the next generation of the company’s leadership will steer us towards even greater success.”
On his appointment, de La Faverie said: “I am deeply humbled and excited to lead ELC, a company founded by a visionary entrepreneur whose legacy continues to inspire us today. 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, and I am excited to lead our incredible teams as we work together to shape the beauty landscape of tomorrow while representing the interests of all shareholders.”
De La Faverie brings over 25 years of experience in prestige beauty to the role. Since joining ELC in 2011, he has held various strategic positions, currently serving as Executive Group President.
In this capacity, he has overseen a diverse portfolio of the company’s brands, including Estée Lauder, Jo Malone London, The Ordinary and Le Labo. Known for his creative and focused leadership style, de La Faverie has been instrumental in driving brand innovation and growth across multiple categories, regions and channels, while maintaining a clear focus on profitability and operational efficiency.
Under his stewardship, ELC’s fragrance portfolio has seen significant growth, as de La Faverie adeptly navigated shifts in consumer behaviour and market trends. He has also played a critical role in the implementation of the company’s Profit Recovery and Growth Plan, aimed at establishing stronger, more sustainable profitability.
Prior to his current role, de La Faverie led the flagship Estée Lauder brand, where he identified and capitalised on high-growth opportunities. His emphasis on digital-first strategies, data-driven marketing and the development of hero products allowed the brand to expand its reach across generations. He also established Estée Lauder as a leading beauty brand among Chinese consumers.
“Stéphane is the ideal transformational leader needed to drive this extraordinary Company through its current challenges and into its next chapter of growth,” said Presiding Director of the Board of Directors Charlene Barshefsky.
“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 ability to address the challenges facing the company to revitalise growth.
“His deep knowledge of our company will enable Stéphane to quickly assess opportunities and implement strategic plans. His inclusive leadership style will enable him to inspire and mobilise the company with speed and agility and set us on a path to long-term, sustainable growth and drive shareholder value.”
Freda added: “Having worked alongside Stéphane for many years, I am thrilled to welcome him as the next President and CEO of The Estée Lauder Companies and look forward to supporting a seamless transition. His visionary leadership is defined by his unwavering commitment to excellence and forward-thinking approach to enhancing our brands and shaping the consumer experience.
“In an industry as dynamic as prestige beauty, Stéphane’s deep knowledge, exceptional strength as a leader and ability to combine inspiration, authenticity and strategic insights to drive profitable growth will enable him to guide the future success of the company’s portfolio.”
Since joining the company’s Executive Leadership Team in 2014, de La Faverie has garnered respect both within ELC and the wider beauty industry. His comprehensive understanding of global markets, emerging channels and evolving consumer dynamics has enabled him to assess business challenges from multiple perspectives.
His strategic insights and experience in managing complex supply chains, along with his strong relationships with key industry stakeholders, including global retailers, suppliers and investors, will be invaluable as Estée Lauder Companies embarks on its next strategic phase.
Before joining ELC de La Faverie held several prominent roles within L’Oréal, including General Manager of Giorgio Armani Beauty USA.
He began his career with Lancôme Global in Paris and later served as Luxury Products Group Area Manager for L’Oréal’s Travel Retail division in North America. In this role, he oversaw the Lancôme, Giorgio Armani, Ralph Lauren and Biotherm brands.
His experience also includes roles with Lancôme Australia as General Manager and Lancôme USA as Vice President of Marketing, where he oversaw skincare and fragrance. ✈
