ELC fully completed its acquisition of the Tom Ford business on 28 April 2023, paying a total of $2.25bn for the brand
ELC has named Guillaume Jesel as Tom Ford’s new President and CEO
As CSO, Nancy Mahon will work to improve ELC’s sustainability initiatives and manage Environmental, Social and Governance (ESG) reporting across the organisation.
Mahon will also continue to serve as Executive Director of ELC’s Charitable Foundation and on the company’s executive leadership team.
“Sustainability has long been central to how The Estée Lauder Companies and its brands have operated, and is a key part of our corporate strategy,” said Fabrizio Freda, ELC President and CEO.
“We are committed to continuously evolving to drive our sustainability initiatives forward and helping to innovate and connect at both local and global levels, ultimately positioning us well to succeed in a changing global economy.”
Mahon previously served as Senior VP of Global Corporate Citizenship and Sustainability at ELC, and originally joined the beauty goliath in July 2011.
Prior to this, she spent five years as Chairperson for the US Department of Health and Human Services.
Mahon’s appointment comes after ELC fully completed its acquisition of the Tom Ford business on 28 April 2023, paying a total of US$2.25bn for the brand.
Shortly after the deal’s completion, ELC appointed Guillaume Jesel as Tom Ford’s new President and CEO and Peter Hawkings as Creative Director.
The company’s namesake founder, Tom Ford, and its current chairman Domenico De Sole will continue to serve as brand advisors until the end of 2023.
“I could not be happier with the acquisition of the Tom Ford brand by The Estée Lauder Companies,” said Ford.
“The team there has been a great partner and Guillaume is an exceptional leader, with not only a strong business understanding of beauty, but a great understanding of fashion as well.”
Peter Hawkings has been appointed as Tom Ford’s new Creative Director
He will report to Jane Hertzmark Hudis, Executive Group President, and Tracey Travis, Executive VP and CFO.
“Guillaume has been instrumental in shaping the luxury beauty sector of our business,” added Freda.
“His ability to articulate the Tom Ford brand has resulted in Tom Ford Beauty achieving remarkable global success, making him ideally suited to lead the Tom Ford brand into its exciting future.”
ELC’s acquisition of Tom Ford in November 2022 came after months of rumours and back and forth, with the company fighting off stiff competition from rivals such as Kering.
ELC also forecasted that the fashion house’s cosmetics business will create more $1bn in sales within the next couple of years, after growing 25% in 2022.
"They have been an extraordinary partner from the first day of my creation of the company and I am thrilled to see them become the luxury stewards in this next chapter of the Tom Ford brand,” said Ford on the acquisition announcement in November last year.