Ronald S Lauder is retiring from the Estée Lauder Companies’ (ELC) board of directors just days after Stéphane de La Faverie took over as the beauty giant’s President and CEO.
The son of founder Estée Lauder will step down immediately, but has the right to designate two directors under a stockholder’s agreement between the company and Lauder family members.
Ronald’s first designee, daughter Jane Lauder, will continue to serve on the board in her current position.
Jane announced in October last year that she would be stepping down from her role as Chief Data Officer and Executive VP Enterprise Marketing at the US beauty company, but would remain on the board.
His second nominee is son-in-law Eric Zinterhofer – married to Aerin Lauder – who has been elected by the board effective immediately.
Ronald joined ELC in 1964 and has served in various capacities.
He was a member of the board of directors of the company from 1968 to 1986, from 1988 to July 2009, and again from 2016 to now.
Beyond ELC, Ronald served as Deputy Assistant Secretary of Defense for European and NATO Affairs between 1983 and 1986.
He was also the US Ambassador to Austria from 1986 to 1987.
Following his departure from the board, Ronald will remain with the company as Chairman of Clinique Laboratories.
“As a member of the Lauder family and director on the board, Ronald has been a steadfast advocate for the Estée Lauder Companies, our people and our brands,” said board Chair William P Lauder.
“His dedication and strategic vision have been integral to ensuring our company is built upon a strong foundation.”
He added: “I would also like to welcome Eric to the board.
“As a member of the family, Eric will continue to champion the values at the heart of our company while bringing a fresh perspective at this pivotal moment.”
Ronald described his 50-plus year service as “an incredible honour and privilege”.
“While I may be retiring from this position on the board, I will continue to be committed to supporting this incredible company, the next generation of the Lauder family in leadership and our family legacy,” he added.
“I am confident Eric’s experience and perspective will be an asset to the company’s long term vision and plans to return to growth, while maintaining the values at the heart of our work.”
The announcement follows the departure of long-serving ELC board member Richard Parsons at the end of last year.
The businessman, previously chairman of Citigroup, as well as chairman and CEO of Time Warner, stepped down due to health reasons and passed away on 26 December aged 76.
Meanwhile, Leonard Lauder, Ronald’s brother and father of William, ceded his directorship at the end of 2023.
He has, however, remained with the company as Chairman Emeritus.
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