The Estée Lauder Companies president and CEO to retire

The Estée Lauder Companies has announced that president and chief executive Fabrizio Freda intends to retire at the end of fiscal year 2025, after more than 16 years at the company.

In a statement, Estée Lauder’s board said it was “well advanced” in its long-established CEO succession planning process and has considered many highly qualified internal and external candidates.

Until his successor is appointed, Freda will continue to lead and oversee the group’s strategic, financial and investment priorities, including the profit recovery and growth plan and its efforts to reignite profitability and growth.

Once a successor has been named, Freda will partner with the new boss 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 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.”

Fabrizio Freda boss of The Estée Lauder Companies to retire by end of 2025

Freda first joined The Estée Lauder Companies as president and chief operating officer in March 2008, having previously served as president at fellow beauty giant Procter & Gamble for over 20 years. He assumed the CEO position in July 2009.

William P. Lauder, executive chairman of 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.

“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.”