Estée Lauder boss Fabrizio Freda to retire
The Estée Lauder Companies President and CEO Fabrizio Freda has announced his intention to retire at the end of fiscal year 2025, after more than 16 years at the business.
Freda first joined The Estée Lauder Companies as President and CEO in 2008, having previously served as President at fellow beauty giant Procter & Gamble for over 20 years.
Until his successor is appointed, Freda will continue to lead and oversee the company’s strategic, financial and investment priorities, including its Profit Recovery & Growth Plan.
The company said it is "well advanced" in its long-established CEO succession planning process, whereby the board has considered many highly qualified internal and external candidates.
Freda will partner with this leader to ensure a "smooth transition" and will also be available in fiscal year 2026 as an advisor.
On his retirement, Freda said: "Leading The Estée Lauder Companies for sixteen years, is and has been, a true honour and privilege. I am so proud of our 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. 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."
William P. Lauder, Executive Chairman at The Estée Lauder Companies, added: "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.
"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.
"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."
The news follows a number of recent leadership changes at Estée Lauder, including the appointment of Rashida La Lande as EVP and General Counsel and Akhil Shrivastava as EVP and Chief Financial Officer, replacing Tracey Travis, who announced her intention to retire last month.