08.19.24
The Estée Lauder Companies announced that longstanding President and CEO, Fabrizio Freda has informed the Board of Directors of his intention to retire at the end of fiscal year 2025.
Until his successor is appointed, 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.
The Board is well advanced in the CEO succession planning process, where the Board has considered many highly qualified internal and external candidates.
Once a successor has been named, Freda will partner with this leader to ensure a smooth transition and will also be available in fiscal year 2026 as an advisor.
William P. Lauder, Executive Chairman, said,
“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. 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. 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.”
Fabrizio Freda commented,
“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.”
Until his successor is appointed, 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.
The Board is well advanced in the CEO succession planning process, where the Board has considered many highly qualified internal and external candidates.
Once a successor has been named, Freda will partner with this leader to ensure a smooth transition and will also be available in fiscal year 2026 as an advisor.
William P. Lauder, Executive Chairman, said,
“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. 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. 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.”
Fabrizio Freda commented,
“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.”
