BeautyBusiness – The Beauty Influencers

Fabrizio Fredo to Retire as CEO of The Estée Lauder Companies

Christine Schott Ledes — Mon, 19 Aug 2024 18:46:36 +0000

The Estée Lauder Companies Inc. has announced that Fabrizio Freda has informed the Board of Directors of his intention to retire at the end of fiscal year 2025. The Board is well advanced in its long-established CEO succession planning process whereby the Board has considered many highly qualified internal and external candidates. Until his successor is appointed, Mr. Freda will continue to lead and oversee the Company’s strategic, financial and investment priorities, including the Company’s Profit Recovery and Growth Plan and its efforts to reignite profitability and growth. Once a successor has been named, Mr. Freda will partner with this leader to ensure a smooth transition and will also be available in fiscal year 2026 as an advisor.

“On behalf of the entire Board of Directors and the Lauder family, we wish to extend our sincere gratitude to Fabrizio for over sixteen years of devoted service to the Company,” said William P. Lauder, Executive Chairman. “We look forward to celebrating Fabrizio’s many amazing accomplishments as his formal retirement date nears. Until then, the Board, Fabrizio and the entire leadership team are laser-focused on navigating the current challenges faced by the Company.”

Mr. Lauder continued, “On a personal note, Fabrizio has been an incredible partner to me as well as other members of the Lauder family. He understands the uniqueness of this family business and has used our long-term focus and principle of patient capital as a point of strength as he has transformed the business to meet evolving consumer aspirations.”

On his retirement, Mr. Freda said, “Leading The Estée Lauder Companies for sixteen years, is and has been, a true honor and privilege. I am so proud of our company’s incredible accomplishments, and to have built the most talented, dedicated, and passionate team in the industry. Together we have transformed the Company in beautiful ways; and we have set new standards for excellence. I will continue to be fully focused on the execution of our strategic reset and the Profit Recovery and Growth Plan, as we continue to address the current challenges. As we manage for the long term, now is the right time to look ahead to the next generation of leadership for this great company. I look forward to continuing to work closely with our Board of Directors in the selection of my successor and ensuring a seamless transition.”

The Company will announce its fiscal 2024 earnings results for its fourth quarter and full year ended June 30, 2024, on Monday, August 19, 2024.

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FRAGRANCE FOUNDATION MASTERCLASS WITH LEONARD A. LAUDER

Christine Schott Ledes — Tue, 22 Dec 2020 01:10:34 +0000

The Fragrance Foundation (TFF) hosted its first virtual Masterclass last week with more than 2,000 viewers in the global audience featuring Leonard A. Lauder, Chairman Emeritus and former CEO of The Estée Lauder Companies. The event was sponsored by The Estée Lauder Companies, Firmenich, Givaudan, and International Flavors and Fragrances, (IFF). Timing of this TFF hallmark event was based on the recent release of Mr. Lauder’s memoir, The Company I Keep: My Life in Beauty. All proceeds from the book sales will be donated to charity.

In his memoir, Leonard Lauder shares the business and life lessons he learned as well as the adventures he had while helping transform the small business his mother founded in 1946 in the family kitchen into the beloved brand and ultimately into the iconic global prestige beauty company it is today. In this captivating personal account complete with great stories as only he can tell, Mr. Lauder, now known as The Estée Lauder Companies’ “Chief Teaching Officer,” reflects on his childhood, growing up during the Great Depression, the vibrant decades of the post-World War II boom, and his work growing the company into the beauty powerhouse it is today. Lauder pays loving tribute to his mother Estée Lauder, the company’s eponymous founder, and to its employees both past and present, while sharing inside stories about the company, including tales of cutthroat rivalry with Charles Revson of Revlon and others. The book offers keen insights on honing ambition, leveraging success, learning from mistakes, and growing an international company in an age of economic turbulence, uncertainty, and fierce competition.

Fragrance Foundation President Linda G. Levy sat down with Mr. Lauder for a wide-ranging discussion about leadership, life lessons, family and—of course—fragrance. Incorporating questions from TFF Notables as well as from industry executives who have worked closely with Mr. Lauder over the years, the conversation spans his extraordinary life, from the role he played in building The Estée Lauder Companies into the global powerhouse it is today to the challenges and triumphs of navigating an ever-changing fragrance market.

“It was truly an iconic Masterclass with Leonard Lauder,” said Levy. “The fragrance community’s connection, as well as our personal history together, made the discussion heartfelt as well as educational. It was evident why Mr. Lauder is known as The Estée Lauder Companies’ “Chief Teaching Officer” as he shared his leadership lessons with us.”

Some of the wonderful lessons Lauder shared in the book –and in this discussion, include, “Open up your ears to what other people are saying to you. If you can do that on a regular basis, I promise you, you will always win. That’s a guarantee!”

He also shared the importance of listening to one’s core consumer. “There’s always a woman who has a different way of looking at things. Pay attention to her and listen to her,” he said, adding that one of the lessons in his book is to never make a business decision without a woman at the table.

On early memories of his mother, Estée Lauder, he said, “I first saw my mother in action while sitting in a high chair.” And, “What I learned from those early years with her is the idea of dedication. If you want to make it, you have to keep your eye on the future and keep going.”

Referencing the immediate success of Estée Lauder’s first fragrance, Youth Dew, Lauder noted how “Fragrance goes back thousands of years, and it will continue for thousands of years because fragrance is tied in completely with human instinct,” he said. “It’s your natural way of sensing where you are.”

And about his philosophy on hiring employees, Lauder shared, “I made it a point to only hire people who had more talent than I did,” he said. “Don’t be threatened by them, embrace them.”

The webinar was recorded and can be replayed on The Fragrance Foundation’s website www.fragrance.org

Mr. Lauder’s memoir, The Company I Keep: My Life in Beauty (Harper Collins) is available on amazon.com

All proceeds from the book sales will be donated to charity.

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Leonard A. Lauder’s Memoir: The Company I Keep, My Life In Beauty

Christine Schott Ledes — Wed, 18 Nov 2020 19:05:30 +0000

The Estée Lauder Companies (ELC) celebrates the launch of Chairman Emeritus and former CEO, Leonard A. Lauder’s highly anticipated memoir, The Company I Keep: My Life in Beauty.

In the book, Mr. Lauder recounts his extraordinary life from growing up in New York City during the Great Depression to helping his mother and the company’s founder, Mrs. Estée Lauder, grow her business into the global powerhouse it is today. The Company I Keep is available as of November 17th in the U.S., and will roll out in various global markets in the coming months.

The Company I Keep available November 17th

“The process of writing this memoir has been so meaningful to me, and above all, has reminded me of all the outstanding people I’ve been surrounded by my entire life. The Company I Keep provides an overview of my journey and that of this incredible Company, the one I grew up with and one that continues to inspire me day in and day out,” said Mr. Lauder.

Readers will enjoy Mr. Lauder’s fascinating stories from the early days of ELC, including the origins of the Estée Lauder Youth Dew bath oil, Queen Elizabeth collecting her Estée Lauder purse-sized makeup compacts and the interesting anecdotes on how the company entered the post-WWII European market. Additionally, Mr. Lauder provides never-before-heard takes on some of the most influential moments in the company’s journey, including a first-hand glimpse into ELC’s decision to go public; the launch of the world’s first prestige natural skincare brand, Origins; the Company’s expansion across global specialty and department stores; and the strategy behind some of ELC’s largest brand acquisitions.

Mr. Lauder currently serves as the company’s Chairman Emeritus

Along with keen insights from his time in the beauty industry, Mr. Lauder also shares his takeaways in leadership, accountability and collaboration from his time in the U.S. Navy, how he developed his passions for art and postcard collecting and his approach to transformative philanthropy.

For more information on the book, please visit www.TheCompanyIKeepBook.com and follow the book’s Instagram, Twitter, and Facebook pages for updates and more.All author proceeds from the sales of the book will be donated to charity.

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