Can Estée Lauder Companies’ new boss reverse its fortunes?

A new year, a new Lauder. 

Stéphane de La Faverie has been confirmed as the successor to long-time Estée Lauder Companies (ELC) President and CEO Fabrizio Freda, ending months of speculation.

La Faverie’s leadership will be effective 1 January 2025, while Freda, who has helmed ELC since 2009, will remain with the company into 2026 to “ensure a seamless transition”.

Additionally, William P Lauder will step down from his current role as Executive Chairman of the company on 8 November; although he will remain Chair of its board of directors.

The new regime will also see Jane Lauder back away from a day-to-day C-suite role.

News broke that the granddaughter of Estée Lauder – Chief Data Officer and Executive VP Enterprise Marketing at ELC and a favoured internal candidate for the top job – would step down just prior to ELC’s official succession announcement.  

Lauder, whose career with ELC spanned 28 years, will now work solely as a board member and shareholder.

Further changes at the top include Mark Loomis, the beauty giant’s Group President, North America, who announced in October that he would be retiring next summer. 

His role will be split between Tara Simon, who will become President, North America, and Amber English, who will become President, Digital and Online, North America.

ELC’s Executive VP and CFO is also brand new to the role; Akhil Shrivastava’s appointment was announced in July, but his tenure officially begins today (1 November). 

He likewise replaced an ELC veteran, Tracey Travis, who retired after more than 12 years with the company.

And all of this follows the 2023 departure of Leonard Lauder, the 90-year-old heir to the ELC fortune and William’s father, from the board of directors. 

But will this major C-suite shift help the New York-based beauty giant reverse its recent revenue decline?