Estee Lauder (NYSE:EL) announced Monday, ahead of its earnings release, that its CEO, Fabrizio Freda, will retire at the end of the fiscal year 2025.
Freda, who has led the company for over 16 years, informed the Board of Directors of his decision, marking the beginning of a significant leadership transition for the global beauty giant.
The company has stated that it is well advanced in its CEO succession planning, having considered a range of internal and external candidates.
Until a successor is appointed, Freda will continue to steer Estée Lauder's strategic, financial, and investment priorities, including the ongoing Profit Recovery and Growth Plan aimed at reigniting profitability and growth.
The company said that once a new CEO is named, Freda will work closely with them to ensure a smooth transition. He will also remain available as an advisor during fiscal year 2026.
William P. Lauder, Estee Lauder's Executive Chairman, thanked Freda for his service, highlighting his role in transforming the company and guiding it through evolving consumer demands.
"Fabrizio has been an incredible partner to me and other members of the Lauder family," Lauder said, noting Freda's deep understanding of the company's unique heritage.
Freda reflected on his tenure, saying it was an honor and privilege to lead the company. He emphasized his commitment to the current strategic initiatives and expressed confidence in the company's future leadership.
"Now is the right time to look ahead to the next generation of leadership for this great company," Freda stated.