Just over a week after Stéphane de La Faverie assumed the role of chief executive officer, Ronald S. Lauder, son of the brand’s legendary founder Estée Lauder, has announced his retirement from the board.
At 80 years old, Ronald Lauder leaves a legacy of nearly six decades with the family business. Joining in 1964, he served in various capacities and held board positions across multiple intervals, including his most recent tenure beginning in 2016. He will, however, continue as chairman of Clinique Laboratories.
Reflecting on his departure, Lauder said, “While I may be retiring from this position on the board, I will continue to be committed to supporting this incredible company, the next generation of the Lauder family in leadership, and our family legacy.” He also expressed confidence in his successor, son-in-law Eric Zinterhofer, who will assume one of his board seats. His daughter Jane Lauder will retain the other designated family seat.
Zinterhofer, married to Aerin Lauder, brings extensive governance experience as a founding partner of Searchlight Capital Partners and chairman of Charter Communications. William P. Lauder, chair of the board, described him as a valuable addition: “Eric will continue to champion the values at the heart of our company while bringing a fresh perspective at this pivotal moment.”
This transition occurs during a challenging period for Estée Lauder Companies. The group faces declining sales, with its first-quarter net sales dropping 4 percent year-over-year to $3.36 billion. The company anticipates continued struggles in its key markets, particularly mainland China and Asian travel retail, with organic net sales expected to decline 6 to 8 percent in the second quarter.
