Consumer
Estée Lauder Appoints Insider as CEO to Lead Turnaround Plan
- De La Faverie needs to implement big strategy shift: analysts
- Lauder family members also stepping down from executive roles
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Estée Lauder Cos. named longtime company veteran Stéphane de La Faverie as chief executive officer, betting that the insider can execute the sweeping turnaround that Wall Street wants.
De La Faverie, 50, will take the helm of the cosmetics company on Jan. 1, succeeding Fabrizio Freda, who has been CEO since 2009. Freda, 67, said earlier this year that he planned to retire next June.