Estée Lauder Companies Announces Stéphane de La Faverie as President and Chief Executive Officer
Global beauty leader appoints industry veteran to drive innovation and growth
NEW YORK, March 8, 2023 -- The Estée Lauder Companies (NYSE: EL) today announced the appointment of Stéphane de La Faverie as President and Chief Executive Officer, effective April 1, 2023. De La Faverie will succeed Fabrizio Freda, who will become Executive Chairman of the Board of Directors, also effective April 1, 2023.
A Proven Leader in the Beauty Industry
De La Faverie brings over 25 years of experience in the beauty industry to his new role. He most recently served as Chief Operating Officer and President of L'Oréal Luxe, where he oversaw the company's global luxury brands portfolio, including Lancôme, Yves Saint Laurent, Giorgio Armani, and Valentino.
Prior to joining L'Oréal, de La Faverie held senior leadership positions at Coty and Procter & Gamble. He has a deep understanding of the beauty market and a proven track record of driving growth and innovation.
Driving Innovation and Growth at Estée Lauder
As President and CEO of the Estée Lauder Companies, de La Faverie will be responsible for leading the company's global operations and driving its strategic growth initiatives. He will work closely with the Board of Directors and the company's Executive Leadership Team to develop and execute a vision for the future of the company.
"I am honored and excited to join the Estée Lauder Companies as its President and CEO," said de La Faverie. "The company has a rich heritage and a portfolio of iconic brands that are loved by consumers around the world. I look forward to working with the talented team at Estée Lauder to build on this legacy and drive the company's continued success."
Fabrizio Freda Transitions to Executive Chairman
Freda, who has served as President and CEO of the Estée Lauder Companies since 2009, will transition to the role of Executive Chairman of the Board of Directors. In this role, he will continue to provide guidance and support to de La Faverie and the company's leadership team on strategic matters and long-term growth initiatives.
"Stéphane de La Faverie is an accomplished executive with a deep understanding of the beauty industry and a proven track record of success," said Freda. "I am confident that he will lead the Estée Lauder Companies to even greater heights in the years to come."
About The Estée Lauder Companies
The Estée Lauder Companies is one of the world's leading manufacturers and marketers of skin care, makeup, fragrance, and hair care products. The company's products are sold in over 150 countries and territories through department stores, specialty stores, and online retailers. The Estée Lauder Companies owns a portfolio of iconic brands including Estée Lauder, Clinique, Bobbi Brown, MAC Cosmetics, and La Mer.
