Consumer
Estée Lauder Will Tap Longtime Executive as CEO, WSJ Says
- De la Faverie picked to take over struggling cosmetics company
- Sales in China have been slow to recover since the pandemic
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Estée Lauder Cos. has picked longtime executive Stéphane de La Faverie to take over as chief executive officer, the Wall Street Journal reported, citing people familiar with the matter.
The announcement could come as soon as this week, the Journal said. Jane Lauder, the granddaughter of Estée Lauder’s founder and among the list of potential CEO candidates, plans to step aside from her executive role at the end of the year, the newspaper reported. Current CEO Fabrizio Freda announced his retirement plans earlier this year.