The Chief Data Officer and VP of Enterprise Marketing Is the Latest to Step Down as Part of the Company’s Turnaround Strategy
The Estée Lauder Companies is undergoing another significant leadership change as Jane Lauder, granddaughter of the company’s founder, prepares to step down from her role as chief data officer and executive vice president of enterprise marketing at the end of 2024. Lauder, who has been with the company since 1996 and held several leadership roles across its brands, will remain on the board of directors but will no longer be involved in day-to-day operations. Her departure coincides with the company’s ongoing efforts to implement a succession plan following CEO Fabrizio Freda’s announcement that he will retire by June 2025.
Jane Lauder’s decision to step down comes at a pivotal moment for the company, which is navigating a strategic turnaround aimed at restoring its position as a leader in the prestige beauty market. In an internal memo, Lauder expressed her commitment to supporting the company’s recovery efforts, stating, “The company is embarking on a necessary and fundamental turnaround. I have thought about how I can be most effective in helping the company reclaim its rightful position as the world’s leader in prestige beauty and restore long-term shareholder value.” She will continue to serve as an advisor to the CEO through the end of the fiscal year, focusing on the company’s profit recovery and growth plan.
Lauder’s departure follows other notable executive changes at Estée Lauder, including the recent exit of chief financial officer Tracey Travis and growing speculation around Freda’s successor. Executive group president Stéphane de La Faverie, who has played a central role in the company’s turnaround strategy, is widely considered a top candidate to lead the company moving forward. With Jane Lauder stepping down, William Lauder will remain the only family member actively involved in the company’s operations, though the Lauder family still holds a significant share of voting power.
These shifts come as Estée Lauder faces pressure from investors and market challenges, including sluggish sales growth and a heavy reliance on the Chinese market. The company’s stock has seen a significant decline since 2022, and upcoming quarterly earnings will be closely watched as the company works to stabilize its business and execute its strategic recovery.