The Estée Lauder Companies’ President & CEO Fabrizio Freda Announces Intention to Retire at the End of Fiscal Year 2025
The Estée Lauder Companies Inc. (NYSE: EL) has announced that CEO Fabrizio Freda intends to retire at the end of fiscal year 2025. The Board of Directors is well advanced in its CEO succession planning process, considering both internal and external candidates. Until a successor is appointed, Freda will continue to lead the company's strategic initiatives, including the Profit Recovery and Growth Plan.
Freda, who has served the company for over 16 years, will partner with his successor to ensure a smooth transition and will be available as an advisor in fiscal year 2026. The Board, Freda, and the leadership team remain focused on addressing current challenges faced by the company. Executive Chairman William P. Lauder expressed gratitude for Freda's service and his role in transforming the business to meet evolving consumer aspirations.
Estee Lauder Companies Inc. (NYSE: EL) ha annunciato che il CEO Fabrizio Freda intende andare in pensione alla fine dell'anno fiscale 2025. Il Consiglio di Amministrazione è già avanti nel processo di pianificazione della successione al CEO, considerando sia candidati interni che esterni. Fino all'assegnazione di un successore, Freda continuerà a guidare le iniziative strategiche dell'azienda, inclusi il Piano di Recupero e Crescita dei Profitti.
Freda, che ha servito l'azienda per oltre 16 anni, collaborerà con il suo successore per garantire una transizione fluida e sarà disponibile come consulente nell'anno fiscale 2026. Il Consiglio, Freda e il team di leadership rimangono concentrati sull'affrontare le attuali sfide che l'azienda sta affrontando. Il Presidente Esecutivo William P. Lauder ha espresso gratitudine per il servizio di Freda e per il suo ruolo nella trasformazione dell'azienda per soddisfare le aspirazioni in evoluzione dei consumatori.
Las Empresas Estée Lauder Inc. (NYSE: EL) ha anunciado que el CEO Fabrizio Freda tiene la intención de retirarse a finales del ejercicio fiscal 2025. La Junta Directiva ha avanzado en el proceso de planificación de la sucesión para el CEO, considerando tanto candidatos internos como externos. Hasta que se nombre a un sucesor, Freda continuará liderando las iniciativas estratégicas de la empresa, incluido el Plan de Recuperación y Crecimiento de Ganancias.
Freda, quien ha servido a la empresa durante más de 16 años, colaborará con su sucesor para asegurar una transición sin problemas y estará disponible como asesor en el ejercicio fiscal 2026. La Junta, Freda y el equipo de liderazgo permanecen enfocados en abordar los desafíos actuales que enfrenta la empresa. El presidente ejecutivo William P. Lauder expresó su gratitud por el servicio de Freda y su papel en la transformación del negocio para satisfacer las aspiraciones en constante evolución de los consumidores.
에스테 레오더 컴퍼니즈(Estée Lauder Companies Inc.)(NYSE: EL)는 CEO 파브리지오 프레다(Fabrizio Freda)가 2025 회계연도 말에 은퇴할 의도가 있다고 발표했습니다. 이사회는 내부 및 외부 후보자를 고려하여 CEO 후계 계획을 이미 많이 진행하였습니다. 후계자가 임명될 때까지 프레다는 수익 회복 및 성장 계획을 포함한 회사의 전략적 이니셔티브를 계속 이끌 것입니다.
16년 이상 회사를 위해 일해 온 프레다는 후계자와 협력하여 원활한 전환을 보장하고 2026 회계연도에 자문 역할을 할 것입니다. 이사회와 프레다, 그리고 경영진 팀은 회사가 직면한 현재의 도전에 집중하고 있습니다. 실행 의장인 윌리엄 P. 로더(William P. Lauder)는 프레다의 서비스와 변화하는 소비자 욕구에 부응하기 위한 사업 변혁에서의 그의 역할에 감사를 표했습니다.
Les sociétés Estée Lauder Inc. (NYSE: EL) ont annoncé que le PDG Fabrizio Freda prévoit de prendre sa retraite à la fin de l'exercice fiscal 2025. Le conseil d'administration est déjà bien avancé dans son processus de planification de la succession du PDG, en considérant à la fois des candidats internes et externes. Jusqu'à ce qu'un successeur soit nommé, Freda continuera à diriger les initiatives stratégiques de l'entreprise, y compris le Plan de Récupération et de Croissance des Profits.
Freda, qui a servi l'entreprise pendant plus de 16 ans, travaillera avec son successeur pour assurer une transition en douceur et sera disponible comme consultant lors de l'exercice fiscal 2026. Le conseil d'administration, Freda et l'équipe de direction demeurent concentrés sur la résolution des défis actuels auxquels l'entreprise est confrontée. Le président exécutif William P. Lauder a exprimé sa gratitude pour le service de Freda et son rôle dans la transformation de l'entreprise pour répondre aux aspirations des consommateurs en constante évolution.
Die Estée Lauder Companies Inc. (NYSE: EL) hat bekannt gegeben, dass CEO Fabrizio Freda beabsichtigt, zum Ende des Geschäftsjahres 2025 in den Ruhestand zu gehen. Der Vorstand ist bereits weit fortgeschritten im Prozess der Nachfolgeplanung für den CEO und prüft sowohl interne als auch externe Kandidaten. Bis ein Nachfolger bestellt ist, wird Freda weiterhin die strategischen Initiativen des Unternehmens, einschließlich des Profit Recovery and Growth Plans, leiten.
Freda, der über 16 Jahre für das Unternehmen tätig war, wird mit seinem Nachfolger zusammenarbeiten, um einen reibungslosen Übergang zu gewährleisten, und steht im Geschäftsjahr 2026 als Berater zur Verfügung. Der Vorstand, Freda und das Führungsteam bleiben darauf fokussiert, die aktuellen Herausforderungen des Unternehmens zu adressieren. Der Executive Chairman William P. Lauder drückte seine Dankbarkeit für Fredas Dienst und dessen Rolle bei der Transformation des Unternehmens aus, um den sich wandelnden Verbraucheransprüchen gerecht zu werden.
- CEO succession planning process is well advanced, considering internal and external candidates
- Fabrizio Freda will continue to lead strategic initiatives until a successor is appointed
- Smooth transition plan in place with Freda available as an advisor in fiscal year 2026
- CEO Fabrizio Freda announcing retirement, potentially creating leadership uncertainty
- Company facing current challenges that require navigation
- Implementation of Profit Recovery and Growth Plan suggests recent financial difficulties
Insights
The announcement of Fabrizio Freda's planned retirement as CEO of Estée Lauder Companies by the end of fiscal year 2025 marks a significant leadership transition for the cosmetics giant. While CEO changes can create uncertainty, the well-advanced succession planning process indicates a thoughtful approach to ensure continuity.
Freda's commitment to oversee the company's Profit Recovery and Growth Plan during the transition period is important for maintaining stability. The emphasis on a smooth handover and Freda's availability as an advisor in fiscal year 2026 demonstrates a responsible transition strategy, which should reassure investors about the company's long-term stability.
However, investors should closely monitor the selection of Freda's successor, as the new leadership will be critical in navigating the current challenges faced by the company and implementing its strategic reset.
Estée Lauder's announcement comes at a time when the beauty industry is facing significant market shifts. The company's acknowledgment of "current challenges" suggests ongoing difficulties, possibly related to post-pandemic consumer behavior changes or economic pressures.
The focus on a Profit Recovery and Growth Plan indicates that the company is actively addressing these issues. Investors should pay attention to the execution of this plan, as it will likely impact the company's short-term financial performance and long-term market positioning.
The mention of "evolving consumer aspirations" highlights the need for Estée Lauder to adapt to changing market demands. The new CEO will need to demonstrate agility in responding to these shifts while maintaining the company's premium brand positioning.
BOARD OF DIRECTORS IS WELL ADVANCED IN CEO SUCCESSION PROCESS
“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
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Media Relations:
Jill Marvin
jimarvin@estee.com
Investor Relations:
Rainey Mancini
rmancini@estee.com
Source: The Estée Lauder Companies Inc.
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