Stéphane de La Faverie will become President and CEO of The Estée Lauder Companies on 1 January 2025.

The Estée Lauder Companies’ Board of Directors has announced that Stéphane de La Faverie will succeed Fabrizio Freda as President and Chief Executive Officer of the company, effective 1 January.

De La Faverie will report directly to the company’s Board of Directors.

As reported, Freda declared earlier this year his intention to retire at the end of fiscal year 2025 following more than 16 years with the beauty giant.

He will support de La Faverie in the coming months to ease the leadership transition.

Freda commented: “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.”

Track record of delivery

With in excess of 25 years’ prestige beauty experience, de La Faverie joined the Company in 2011 and is currently its Executive Group President, responsible for overseeing many of the firm’s brands across its established portfolio, which includes billion-dollar-plus labels such as the eponymous prestige label, to scaling and growing names such as Jo Malone London, The Ordinary and Le Labo.

He is described by ELC as “a creative, energised and focused leader” and one that 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”.

Fabrizio Freda, who announced he will retire at the end of fiscal year 2025, will support de La Faverie in the coming months to ease the leadership transition.

The beauty executive is credited with elevating the company’s fragrance portfolio during an important moment for the category, while skilfully navigating industry shifts and evolving consumer behaviours.

In addition, de La Faverie – a member of ELC’s Executive Leadership Team since 2014 – has performed a key role in driving the implementation of ELC’s profit recovery and growth plan, says the company.

Prior to his current position, he led the Estée Lauder brand, harnessing growth opportunities such as hero products, digital-first and data-led marketing, new technologies and high-growth channels to connect the brand with a diverse consumer base, including Chinese consumers.

Widely respected within the company and within the industry, de La Faverie is recognised for his ability to assess business solutions from different perspectives, assisted by a comprehensive understanding of global markets, emerging channels and consumer dynamics, continued ELC.

The group notes his extensive commercial expertise, ability to navigate complex global supply chains, experience managing through disruption and his ambition and commitment to strengthening the company and its brands as ‘pivotal leadership qualities’, as ELC undergoes a strategic reset.

It adds that de La Faverie has forged meaningful connections with stakeholders across the industry, including global retailers and suppliers, and members of the investor community.

Charlene Barshefsky, Presiding Director of the Board of Directors, said: “Stéphane is the ideal transformational leader needed to drive this extraordinary company through its current challenges and into its next chapter of growth.

“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 revitalise growth.

“His deep knowledge of our company will enable Stéphane to quickly assess opportunities and implement strategic plans. His inclusive leadership style will enable him to inspire and mobilise the company with speed and agility and set us on a path to long-term, sustainable growth and drive shareholder value.”

With in excess of 25 years’ prestige beauty experience, Stéphane de La Faverie currently oversees many of ELC’s brands across an influential portfolio that spans the likes of Jo Malone London, The Ordinary, Le Labo and its eponymous label (pictured).

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.

William P. Lauder to focus on Board role

“We are extremely focused on revitalising our growth via groundbreaking innovation, unforgettable experiences, and cutting-edge marketing to inspire our consumers worldwide. I am grateful to Fabrizio for his strategic guidance, and I look forward to working with him on a seamless transition. It is an honour to advance this legacy of excellence, and I am excited to lead our incredible teams as we work together to shape the beauty landscape of tomorrow while representing the interests of all shareholders.”

William P. Lauder will step down from his role as Executive Chairman of The Estée Lauder Companies and will remain Chair of the Board of Directors.

In a joint announcement, Executive Chairman William P. Lauder will stand down from his role and will remain Chair of the Board of Directors further to the company’s upcoming annual meeting of shareholders.

“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,” he stated. “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. As a family, we remain committed to this incredible company and continue to view our investment through the lens of long-term patient capital.

On the appointment of de La Faverie, Lauder added: “Stéphane’s deep-rooted industry and operational expertise, and his collaborative and dynamic approach, make him the ideal CEO to move us forward with speed, and urgency. Having worked closely with him for many years, I can attest to Stéphane’s ability to nurture and build powerful prestige brands, while his thorough understanding of and respect for our Company’s heritage and culture positions him well for success in this role.

“His strategic vision will position the Company to drive long-term growth in the face of its current challenges, as he deploys transformational new approaches for the future. This appointment marks an exciting new chapter in our Company’s story, and I look forward to supporting Stéphane as he leads the many talented employees of The Estée Lauder Companies and accelerates us along our path to a promising future.

“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.”

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