Jane Lauder is stepping down from her role at Estée Lauder Companies (ELC).
The granddaughter of Estée Lauder has been Chief Data Officer and Executive VP Enterprise Marketing at the US beauty giant since July 2020.
However, according to an internal memo seen by WWD and confirmed to Cosmetics Business by ELC, Lauder will remain an active member of its board.
The decision follows August’s announcement that the Clinique and Bobbi Brown owner’s long-term President and CEO, Fabrizio Freda, is to retire at the end of June next year.
A successor has not yet been announced.
But Lauder, along with ELC’s Executive Group President, Stéphane de La Faverie, was initially reported to be a favoured internal candidate for the role.
The internal memo read: “The company is embarking on a necessary and fundamental turnaround.
“I have thought about how I can be most effective in helping the company reclaim its rightful position as the world’s leader in prestige beauty and restore long-term shareholder value.”
Lauder, whose career with ELC spanned 28 years, added that she intends to work solely as a board member and shareholder.
Executive Chairman William P Lauder praised Lauder, his niece, for accelerating the company’s marketing, data and technology strategies, including the deployment of AI.
Leadership changes were also announced under the conglomerate’s North America business earlier this month, with fellow 28-year ELC veteran Mark Loomis (Group President, North America) announcing he would retire at the same time as Freda.
Loomis’ role will be split between ELC Global Brand President for West Coast Brands, Tara Simon – who will become President, North America – and Amber English, currently Senior VP, E-Commerce/Digital.
English will assume the title of President, Digital and Online, North America.