As of yet, no successor has been announced.
Cos. who has been at the helm since 2009, will retire at the end of next year, the company said Monday.
According to an internal company memo by William P. Lauder, executive chairman of the board, and seen by WWD, the board of directors is “well advanced” in its CEO succession planning process and has considered a number of candidates. “On behalf of the entire board of directors and the Lauder family, we wish to extend our sincere gratitude to Fabrizio for over 16 years of devoted service to the company,” said William P. Lauder.
The news of Freda’s impending retirement comes after it was confirmed in July that Tracey T. Travis, executive vice president and chief financial officer, will retire in June 2025. She will be succeeded by Akhil Shrivastava, effective Nov. 1. Travis will remain at the company until her retirement on June 30, 2025 to support the transition.boom, as well as a focus on hero products. He also oversaw a number of high profile acquisitions like Deciem and Tom Ford.
But the company struggled to bounce back after the pandemic as the Asia travel market and its Chinese business did not recover as quickly as it hoped. At the same time, analysts have pointed to a recent lack of innovation, as well as weakness in its home market of the U.S. On Friday, its share price closed at $94.97.
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