William P. Lauder also announced that he will be stepping down from his current role as Executive Chairman of the company and will remain Chair of the Board of Directors, following the Company’s upcoming Annual Meeting of Stockholders.
William P. Lauder said,
“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. 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.”
De La Faverie succeeds Fabrizio Freda as CEO, who announced his intention to retire earlier this year after more than sixteen years with the company. Freda will support de La Faverie over the next several months to ensure a seamless transition.
Stéphane de La Faverie’s ELC Career
De La Faverie has over 25 years of prestige beauty experience. He joined ELC in 2011 and currently serves as Executive Group President, overseeing many of the company’s brands, such as Estée Lauder, Jo Malone London, The Ordinary, and Le Labo.
He has played a particularly instrumental role in enhancing the company’s fragrance portfolio during a pivotal moment for the category, adeptly navigating industry shifts and evolving consumer behaviors.
De La Faverie has demonstrated an uncompromising focus on brand excellence and innovation across categories, geographies, and channels, as well as an ability to drive profitability with discipline, speed, and efficiency.
Additionally, de La Faverie has played a key role in implementing the company’s Profit Recovery and Growth Plan to help restore stronger and more sustainable profitability.
Lauder added,
“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.”
Charlene Barshefsky, Presiding Director of the Board of Directors, said,
“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 unique ability to address the challenges facing the company to revitalize growth.”
De La Faverie commented,
“I am deeply humbled and excited to lead The Estée Lauder Companies, 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 revitalizing our growth via groundbreaking innovation, unforgettable experiences, and cutting-edge marketing to inspire our consumers worldwide.”
Having been a member of the ELC’s Executive Leadership Team since 2014, De La Faverie is widely respected within the company and throughout the industry for his ability to assess business solutions from multiple perspectives, guided by his comprehensive understanding of global markets, emerging channels, and consumer dynamics.
He has extensive commercial expertise, the ability to navigate complex global supply chains, experience managing through disruption, and ambition and commitment to strengthening the company and its brands.
Fabrizio Freda said,
“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 unique 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.”
Prior Experiance
Before joining ELC, De la Faverie started at Lancôme Global brand in Paris. He then joined the Travel Retail division as Area Manager for the Luxury Products Group, North America, overseeing Lancôme, Giorgio Armani, Ralph Lauren, and Biotherm beauty brands.
Soon after, he was appointed General Manager of Lancôme, Australia, and in 2006, De la Faverie joined Lancôme USA as Vice President of Marketing, overseeing both the skincare and fragrance categories.
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