Proud For Profits
  • Investing
  • Stock
  • Latest News
  • Economy
  • Investing
  • Stock
  • Latest News
  • Economy
No Result
View All Result
Proud For Profits
No Result
View All Result
Home Stock

Estee Lauder names insider Stéphane de La Faverie as new CEO, WSJ reports

by
October 28, 2024
in Stock
0
Estee Lauder names insider Stéphane de La Faverie as new CEO, WSJ reports

(Reuters) -Cosmetics giant Estee Lauder (NYSE:EL) has picked senior executive Stéphane de La Faverie to take over as its CEO, the Wall Street Journal reported on Monday, citing people familiar with the matter.

In August, the company said CEO Fabrizio Freda was retiring next year and would remain as an advisor to his successor in fiscal year 2026.

La Faverie is currently the executive group president at the company, with brands such as Estée Lauder, Jo Malone London, Le Labo and Kilian Paris under his portfolio. He joined the company in 2013 and prior to that was a senior executive at L’Oreal.

Jane Lauder, who was among the potential CEO candidates, told staff in a memo that she would step aside from her executive role at the company at the end of the year, the Wall Street Journal added.

Estee Lauder did not immediately respond to a Reuters request for comment.

Shares of the company were up about 1%.

La Faverie’s potential appointment comes at a time when the company is grappling with strained demand as the global beauty market struggles, especially in China.

Last week, French cosmetics giant L’Oreal reported a quarterly sales miss due to low consumer confidence in China.

Estee Lauder is expected to announce the CEO selection as soon as this week, WSJ added. The company is set to report quarterly results on Oct. 31.

This post appeared first on investing.com
Previous Post

Earnings call: Ranger Energy posts solid Q3 results despite a challenging market environment

Next Post

Colombia stocks higher at close of trade; COLCAP up 0.37%

Next Post
Colombia stocks higher at close of trade; COLCAP up 0.37%

Colombia stocks higher at close of trade; COLCAP up 0.37%

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    ‘Ultra-right’: Trump budget chief pick Russell Vought faces fire from Dem senators

    ‘Ultra-right’: Trump budget chief pick Russell Vought faces fire from Dem senators

    January 23, 2025
    ‘Totally prepared’: Trump allies say he’s better positioned than ever to enact agenda

    ‘Totally prepared’: Trump allies say he’s better positioned than ever to enact agenda

    January 23, 2025
    Cisco Systems’ Stock Keeps Hitting All-Time Highs: Investment Tips to Maximize Your Success

    Cisco Systems’ Stock Keeps Hitting All-Time Highs: Investment Tips to Maximize Your Success

    January 23, 2025
    Track all markets on TradingView

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Economy

    Latest News

    • ‘Ultra-right’: Trump budget chief pick Russell Vought faces fire from Dem senators
    • ‘Totally prepared’: Trump allies say he’s better positioned than ever to enact agenda
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 proudforprofits.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Economy

    Copyright © 2025 proudforprofits.com | All Rights Reserved