Ronald S. Lauder steps down from Estée Lauder Companies board, passing one of his two seats to son-in-law Eric Zinterhofer.
Just over a week after Stéphane de La Faverie stepped into the chief executive officer role, Ronald S. Lauder, a son of founder Estée, is retiring from the Estée Lauder board and handing one of his seats to his son-in-law Eric Zinterhofer, who is married to his daughterRonald Lauder, age 80, joined his family’s company in 1964 and has served in various capacities.
William P. Lauder, chair of the board, called him a “steadfast advocate for the Estée Lauder Cos., our people, and our brands.” In October, it was revealed that Jane Lauder would be stepping down from her role as chief data officer and executive vice president, enterprise marketing, but would remain an active member of the board.
The group reported net sales of $3.36 billion for its first quarter ended Sept. 30, a decrease of 4 percent from $3.52 billion in the prior year. Skin care, the majority of the business, saw sales fall 8 percent, with double-digit declines at La Mer and Estée Lauder.
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