Estée Lauder Companies (ELC) has appointed Stéphane de La Faverie 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.
ELC also announced that William Lauder will step down from his current role as Executive Chairman of the company and will remain Chair of the board of directors.
De La Faverie has more than 25 years of experience in the prestige beauty industry. He joined ELC in 2011 and is currently Executive Group President, overseeing many of the company’s brands, including Estée Lauder, Jo Malone London, The Ordinary and Le Labo.
The company said de La Faverie played an instrumental role in enhancing its fragrance portfolio and in leading the implementation of its Profit Recovery and Growth Plan.
Prior to joining ELC, de La Faverie was General Manager, Giorgio Armani Beauty USA, a division of L’Oréal. He began his career with Lancôme in Paris then joined the travel retail division as Area Manager for the Luxury Products Group, North America, overseeing the Lancôme, Giorgio Armani, Ralph Lauren and Biotherm brands. Soon after, he was appointed General Manager, Lancôme, Australia, and in 2006 joined Lancôme USA as Vice President of Marketing, overseeing both the skin care and fragrance categories.
William Lauder commented: “Stéphane’s deep-rooted industry and operational expertise, and his collaborative and dynamic approach, make him the ideal CEO to move us forward with speed, and urgency.” […] His strategic vision will position the company to drive long-term growth in the face of its current challenges, as he deploys transformational new approaches for the future. This appointment marks an exciting new chapter in our company’s story.”
He added: “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. I am confident that Stéphane will be an effective, impactful CEO, able to take the decisive actions needed in the face of our current challenges, and that he and the next generation of the company’s leadership will steer us towards even greater success.”