The U.S. beauty giant announced on Wednesday October 30 the appointment of Stéphane de la Faverie as President and CEO and member of its board of directors, effective January 1, 2025. He will succeed Fabrizio Freda, whose retirement was announced earlier this year.
De La Faverie who most recently held the position of Executive Group President, has more than 25 years of experience in the prestige beauty industry. Having worked for Lancôme in Paris and Giorgio Armani USA, Stéphane de la Faverie joined the Estée Lauder group in 2011. He currently oversees brands such as the Estée Lauder, The Ordinary and Jo Malone perfume brands.
Fabrizio Freda, 67, will remain with the group for several months to advise and support his successor, and “ensure a seamless transition,” said the group in a press release.
The Estée Lauder Companies also announced that William P. Lauder is stepping down as executive chairman but will remain chairman of the board. "My decision to focus solely on my role as Chair of the Board represents an important evolution for the Lauder family. Our family’s long-standing day-to-day management of the Company is evolving and reflects my desire to focus more on the overall strategic direction of the Company. As a family, we remain committed to this incredible Company and continue to view our investment through the lens of long-term patient capital," said Mr. Lauder.
The group is due to publish its quarterly results on Thursday. It had warned in its last publication that its turnover and profits for 2025 were likely to be below expectations.
