The Estée Lauder Companies Announces Stéphane de La Faverie as President and Chief Executive Officer
A Visionary Leader to Drive the Company's Continued Growth and Success
New York, NY – June 15, 2023
The Estée Lauder Companies (NYSE: EL) today announced the appointment of Stéphane de La Faverie as President and Chief Executive Officer, effective July 1, 2023. De La Faverie will succeed Fabrizio Freda, who has served as President and Chief Executive Officer since 2009 and will become Chairman of the Board, replacing William P. Lauder, who will remain on the Board as Chairman Emeritus.
De La Faverie has a proven track record of success in the beauty industry, having most recently served as President of L'Oréal's Consumer Products Division. During his tenure at L'Oréal, he led the company's global beauty business, overseeing a portfolio of iconic brands including Lancôme, Giorgio Armani Beauty, Yves Saint Laurent Beauté, and Kiehl's. Under his leadership, the division achieved significant growth and profitability.
Prior to joining L'Oréal, de La Faverie held various leadership positions at Procter & Gamble, where he was responsible for global marketing and innovation for the company's beauty business. He also has extensive experience in international markets, having worked in Europe, Asia, and Latin America.
"Stéphane is a dynamic and accomplished leader with a deep understanding of the beauty industry and a proven ability to drive growth," said William P. Lauder, Chairman of The Estée Lauder Companies. "We are confident that he will build on the strong foundation that Fabrizio has established and lead the company to even greater success in the years to come."
De La Faverie said, "I am honored and excited to join The Estée Lauder Companies. This is a company with an extraordinary legacy and a portfolio of the world's most iconic beauty brands. I look forward to working with the talented team at ELC to continue to drive innovation, growth, and value creation for all of our stakeholders."
Freda said, "Stéphane is an exceptional leader who shares our values and our commitment to innovation and customer satisfaction. I am confident that he will be a great addition to our team and will lead the company to new heights."
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world's leading manufacturers and marketers of quality skincare, makeup, fragrance, and hair care products. The company's products are sold in over 150 countries and territories under brand names including Estée Lauder, Clinique, Origins, MAC Cosmetics, Bobbi Brown, La Mer, GLAMGLOW, Jo Malone London, and Aveda.
