The Estée Lauder Companies (ELC) has announced the retirement of Ronald S. Lauder from its Board of Directors, effective immediately. In accordance with the stockholders’ agreement between the Lauder family and the company, Ronald S. Lauder has retained the right to designate two members of the Board. He will also remain Chairman of Clinique Laboratories.
His daughter, Jane Lauder, who will continue in her current role as a director. He also named his son-in-law, Eric Zinterhofer, as his second designee. The Board has elected Zinterhofer to fill the position, effective immediately.
Zinterhofer, husband of Aerin Lauder, brings extensive experience in finance, investment and global business to the Board of Directors. He is a Founding Partner of Searchlight Capital Partners, where he oversees the firm’s operations alongside two other Founding Partners. He also serves on the Investment Committee, Operating Committee and Valuation Committee of Searchlight.
In addition, Zinterhofer serves on several Searchlight portfolio company boards, including Care Advantage, Hemisphere, Liberty Latin America and TelevisaUnivision. He also serves as Chairman of the Board of Charter Communications.
Before co-founding Searchlight, he held a senior partnership at Apollo Management in New York.
Commenting on his retirement Ronald S. Lauder said: “For more than 50 years, it has been an incredible honour and privilege to serve ELC. While I may be retiring from this position on the Board, I will continue to be committed to supporting this incredible company, the next generation of the Lauder family in leadership, and our family legacy.
“I am confident Eric’s experience and perspective will be an asset to the company’s long-term vision and plans to return to growth, while maintaining the values at the heart of our work.”
“As a member of the Lauder family and Director on the Board, Ronald has been a steadfast advocate for ELC, our people, and our brands,” commented ELC Chair of the Board William P. Lauder. “His dedication and strategic vision have been integral to ensuring our company is built upon a strong foundation. On behalf of the organisation, I want to express my heartfelt gratitude for his remarkable service and leadership.
“I would also like to welcome Eric to the Board. As a member of the family, Eric will continue to champion the values at the heart of our company while bringing a fresh perspective at this pivotal moment. We are confident Eric’s significant governance experience, strategic insight and industry knowledge will be an asset to the company and advance our plans for long-term growth.”
Ronald S. Lauder’s association with ELC spans six decades. He joined the company in 1964 and has served on the Board across multiple terms, including between 1968-1986, 1988-2009, and 2016 until his retirement.
Outside his business roles, Lauder has had a distinguished career in public service, including serving as Deputy Assistant Secretary of Defense for European and NATO Affairs (1983-1986) and as US Ambassador to Austria (1986-1987).
In addition to his corporate and diplomatic contributions, Lauder is an Honorary Chairman of the Museum of Modern Art, President of the Neue Galerie and Co-Chairman of the Alzheimer’s Drug Discovery Foundation. He also chairs the Board of Governors of the Joseph H. Lauder Institute of Management and International Studies at The Wharton School, University of Pennsylvania.
ELC Lead Independent Director Richard F. Zannino added: “During his more than 50 years of contributions to ELC, including his service on the Board, Ronald helped build a foundation of excellence. While we will miss Ronald in his board capacity, Eric is an outstanding choice as his designee.
“On behalf of my fellow Directors, I thank Ronald for his leadership and many contributions and welcome Eric to the Board.” ✈
