This comes after Jane Lauder announced her impending departure.
With current CEO Fabrizio Freda’s impending retirement next year, insiders had speculated for months that his successor would likely be internal and that the two most likely candidates were Jane Lauder, executive vice president of enterprise marketing and chief data officer, and de La Faverie, executive group president.that Jane Lauder was stepping down from her role at the end of this year, signaling that the outcome of the matchup had been decided.
As for the news of Jane Lauder’s departure after three decades at the company, that came as a surprise to many beauty insiders. According to Securities and Exchange Commission filings, Jane Lauder is the second-largest individual family shareholder in the company. She owns 143,592 Class A shares and 22,346,614 Class B Shares, giving her a 15 percent voting stake. Leonard A. Lauder personally has 281,638 Class A shares, while the LAL Family Corporation has 80,437,628 Class B shares with a 54 percent voting stake.
Tong also highlighted that many other beauty giants have moved away from such tight family control. “If you think about most of the other large beauty brands, it’s all past the family at this point,” she said.boom, as well as a focus on hero products. This resulted in a share price jump from $16.75 in 2009 when Freda became CEO to a peak of more than $370 in January 2022, giving it a market capitalization of more than $133 billion. On Monday it closed up 1.7 percent to $88.72.
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