Richard Parsons, a long-serving board member of Estée Lauder Companies (ELC), has announced his immediate retirement from the US beauty giant due to health reasons. Parsons, who has dedicated 25 years to ELC, is also stepping down from all other board roles he currently holds.
Joining ELC’s board in 1999 as a Class II director, Parsons has been instrumental in shaping the company’s governance, particularly in advancing ESG (Environmental, Social, and Governance) initiatives and executive compensation strategies. He was an active member of the Nominating and ESG Committee as well as the Compensation Committee.
In an official filing, ELC expressed its gratitude for Parsons’ contributions, stating: “The company is tremendously grateful for his valuable insights and contributions during the time he served on the board.”
While a successor has yet to be announced, this change comes amid a broader leadership overhaul at ELC. Stéphane de La Faverie has been appointed as the new President and CEO, succeeding Fabrizio Freda, who plans to retire in 2025. Jane Lauder, granddaughter of founder Estée Lauder, is also departing the company after 28 years.
In addition, significant changes are underway in ELC’s North American leadership team to drive its next phase of growth. Across the Atlantic, Pernilla Nyberg has been named Senior Vice President and General Manager for the UK, following Sue Fox’s retirement after three decades with the company.
