Estée Lauder adds to board as Ronald S. Lauder retires

The Estée Lauder Companies has confirmed the departure of Ronald S. Lauder, who has retired from the US-based beauty company’s Board of Directors.

Lauder first joined the business in 1964 and served on the Board of Directors from 1968 to 1986, from 1988 to July 2009, and from 2016 through his most recent retirement.

William P. Lauder, Chair of The Estée Lauder Companies, said: "As a member of the Lauder family and Director on the board, Ronald has been a steadfast advocate for The Estée Lauder Companies, our people, and our brands.

"His dedication and strategic vision have been integral to ensuring our company is built upon a strong foundation. On behalf of the organisation, I want to express my heartfelt gratitude for his remarkable service and leadership."

Lauder has been replaced by his son-in-law Eric Zinterhofer. Meanwhile, his daughter Jane Lauder will continue to serve on the board in her current position.

The appointment is "pursuant to an agreement among Lauder family members and the company that Lauder had the right to designate two directors of the company".

Zinterhofer joins the board with extensive financial, investing and global business experience and is currently a Founding Partner of Searchlight Capital Partners.

He also serves on the boards of several portfolio companies of Searchlight, including Care Advantage, Hemisphere, Liberty Latin America, and TelevisaUnivision, and serves as Chairman of the Board of Charter Communications.

"As a member of the family, Eric will continue to champion the values at the heart of our company while bringing a fresh perspective at this pivotal moment," added William P. Lauder.

"We are confident Eric’s significant governance experience, strategic insight, and industry knowledge will be an asset to the company and advance our plans for long-term growth."