The Estée Lauder Companies Inc. has announced that CEO, Fabrizio Freda has informed the Board of Directors of his intention to retire at the end of fiscal year 2025.
"Leading The Estée Lauder Companies for sixteen years, is and has been, a true honor and privilege," shared Freda in a statement.
"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."
"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," he said.
Until his successor is appointed, Freda will continue to lead and oversee the Company’s strategic, financial and investment priorities.
"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 executive chairman, William P. Lauder.
"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."
BD will keep you updated on news of the CEO appointment.
Image credit: Estée Lauder Companies
