NY-ESTÉE-LAUDER
The Estée Lauder Companies Inc. (NYSE: EL) today announced that Fabrizio Freda has informed the Board of Directors of his intention to retire at the end of fiscal year 2025. The Board is well advanced in its long-established CEO succession planning process whereby the Board has considered many highly qualified internal and external candidates. Until his successor is appointed, Mr. Freda will continue to lead and oversee the Company’s strategic, financial and investment priorities, including the Company’s Profit Recovery and Growth Plan and its efforts to reignite profitability and growth. Once a successor has been named, Mr. Freda will partner with this leader to ensure a smooth transition and will also be available in fiscal year 2026 as an advisor.
“On behalf of the entire Board of Directors and the Lauder family, we wish to extend our sincere gratitude to Fabrizio for over sixteen years of devoted service to the Company,” said William P. Lauder, Executive Chairman. “We look forward to celebrating Fabrizio’s many amazing accomplishments as his formal retirement date nears. Until then, the Board, Fabrizio and the entire leadership team are laser-focused on navigating the current challenges faced by the Company.”
Mr. Lauder continued, “On a personal note, Fabrizio has been an incredible partner to me as well as other members of the Lauder family. He understands the uniqueness of this family business and has used our long-term focus and principle of patient capital as a point of strength as he has transformed the business to meet evolving consumer aspirations.”
On his retirement, Mr. Freda said, “Leading The Estée Lauder Companies for sixteen years, is and has been, a true honor and privilege. I am so proud of our company’s incredible accomplishments, and to have built the most talented, dedicated, and passionate team in the industry. Together we have transformed the Company in beautiful ways; and we have set new standards for excellence. I will continue to be fully focused on the execution of our strategic reset and the Profit Recovery and Growth Plan, as we continue to address the current challenges. As we manage for the long term, now is the right time to look ahead to the next generation of leadership for this great company. I look forward to continuing to work closely with our Board of Directors in the selection of my successor and ensuring a seamless transition.”
The Company will announce its fiscal 2024 earnings results for its fourth quarter and full year ended June 30, 2024, on Monday, August 19, 2024.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include those in the various quotations. Although the Company believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, actual results may differ materially from the Company’s expectations. Factors that could cause actual results to differ from expectations include the ability to successfully implement the Company’s profit recovery and growth plan and those described in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K. The Company assumes no responsibility to update forward-looking statements made herein or otherwise.
About The Estée Lauder Companies
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.
ELC-C
ELC-L
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240818881981/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Royal Decree Establishes the International Financial Centre of Oman13.1.2026 10:15:00 CET | Press release
His Majesty Sultan Haitham bin Tarik, may God protect and preserve him, has issued a Royal Decree establishing the International Financial Centre of Oman (IFC Oman) and enacting its own dedicated law. The establishment of the International Financial Centre of Oman aligns with the Sultanate of Oman’s strategic directions aimed at diversifying the national economy, strengthening Oman’s position as a global hub for financial services, attracting capital, and supporting innovation. The creation of the Centre also reflects Oman’s commitment to building a trusted and effective ecosystem for delivering advanced financial services that meet the needs of investors and global institutions. Under the Law of the International Financial Centre of Oman, issued by Royal Decree No. (8/2026), the Centre shall have administrative, financial, and legislative independence. It will develop a regulatory, legal, and judicial framework aligned with international standards and based on English Common Law. The
Forrester: AI-Led Job Disruption Will Escalate, While Fears Of A Job Apocalypse Are Overstated13.1.2026 10:00:00 CET | Press release
Only 6% Of Jobs In The US Will Be Automated By 2030 Forrester (Nasdaq: FORR) forecasts that automation and AI will have a real but modest impact on jobs through 2030. While AI could account for 6% of total US job losses, equating to 10.4 million roles, widespread AI-driven job replacement remains unlikely, as labor productivity would need to accelerate significantly for AI to replace human talent at scale. Rather than eliminating roles, Forrester forecasts that AI will augment 20% of jobs over the next five years, making it essential for businesses to invest in employee training and upskilling. According to the new report, The Forrester AI Job Impact Forecast, US, 2025–2030, over-automating roles due to the hype surrounding AI can lead to costly pullbacks, damaged reputations, and weakened employee experiences. Forrester’s 2026 future-of-work predictions further reveal that over half of layoffs attributed to AI will be quietly reversed as companies realize the operational challenges of
AI EdgeLabs Adds Advanced Risk and Compliance Center with Linux Audit Capabilities to Its AI Runtime Platform13.1.2026 10:00:00 CET | Press release
AI EdgeLabs, the pioneer in autonomous AI runtime platform, today announced the launch of Compliance Center and Linux Audit. Purpose-built for organizations facing NIS2, CRA, and global critical-infrastructure mandates, the new capabilities replace manual reporting and scan-based compliance with continuous visibility, automated control coverage, and real-time posture insights. Key capabilities include: A single Risk Score representing their current posture Real-time compliance visibility for CRA and NIS2 Prioritized assets based on impact and criticality Extended support for firmware, custom OS, and RTOS Linux audit and configuration hardening insights Automated, framework-specific checklists Incident Reporting and Automated Response “As NIS2 and the Cyber Resilience Act come into force, companies need continuous proof of compliance, not manual mapping or siloed visibility,” said Inna Ushakova, CEO of AI EdgeLabs. “This release provides real-time compliance posture, instant detection o
KAYTUS Introduces One-Stop End-to-End Liquid-Cooled Datacenter Solution Targeting AI Market13.1.2026 09:02:00 CET | Press release
- Enhances competitiveness with 30% reduction in cooling energy consumption - Supports high-density, high-efficiency, and eco-friendly data center construction through 4D differentiation strategy KAYTUS, a leading provider of end-to-end AI and liquid cooling solutions, has introduced its One-Stop End-to-End Liquid-Cooled Data Center Solution in response to the surging demand for AI adoption and energy efficiency. The solution is designed with the concepts of modularization, prefabrication, and safety, supporting up to 15 kW per node and 130 kW per cabinet, with a PUE below 1.1. It provides an end-to-end liquid cooling solution covering design, development, deployment, and operation, addressing the complexity and high entry barriers of large-scale liquid-cooled deployment while supporting eco-friendly data center operations aligned with the government’s carbon neutrality initiatives. Rapid Growth of Domestic AI Market Highlights Urgent Need for Energy Efficiency The AI industry is rapid
The Blind Sailor Takes the Stage at WEF: "HIRO’s CHOICE" Project to Set Sail13.1.2026 05:00:00 CET | Press release
A Solo, Non-Stop Crossing of the Pacific Ocean “Blind Sailor Single-Handed Pacific Crossing Project 2027” is a world-first initiative in which Mitsuhiro Iwamoto, a completely blind Japanese yachtsman (blind sailor) based in San Diego, will attempt a solo, non-stop trans-Pacific crossing in the spring of 2027. Sailing a 28-foot yacht single-handedly, he aims to cross the Pacific Ocean from San Diego on the U.S. West Coast to Amakusa, Kumamoto Prefecture, Japan, without making port. Iwamoto will speak about this project at the World Economic Forum Annual Meeting 2026, to be held in January 2026. Project URL: https://hiros-choice.com/ This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260108087321/en/ Hiro Iwamoto / Global Keynote Speaker, First Totally Blind Sailor to Cross the Pacific The message he most wishes to convey at the WEF is the power of choice. He lost his sight at the age of sixteen—a moment when he nearly gave up on
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom