Speculation swirls around CEO succession at Estée Lauder.
Sources say that Tracey Travis, executive vice president and chief financial officer, will exit the publicly listed company later this year, while Freda’s final outstanding financial incentive will end in one year.
Her leaving follows another big departure: Deirdre Stanley, executive vice president and general counsel, left the company in April, having joined in 2019. According to the terms of his employment agreement, the president and CEO, who is technically an employee at will and not under contract, will receive incentivization in September 2025, provided the cumulative operating income goal is met as of June 30, 2025.
In a joint statement, Charlene Barshefsky, presiding director of the board, and William P. Lauder said: “The board of directors fully supports Fabrizio as ceo and his plan to accelerate growth, rebuild profitability, and increase speed to market through the execution of the Profit Recovery and Growth Plan.
In an interview with WWD, Oliver Chen, an analyst at Cowen, added: “All great companies need to think about this as far in advance as possible. I have always thought that ELC needs more speed and agility, so whatever leadership comes next should be focused on driving speed and driving innovation and driving relevance to younger customers.”
Whoever enters or exits the C-suite next, one thing is certain: the company has much work to do to claw back market share that it lost as the Chinese market and travel retail failed to bounce back post-pandemic.
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