Estée Lauder Companies EL shares are trading lower on Wednesday, ahead of the company’s fiscal 2025 first-quarter results scheduled for release on October 31, 2024.

According to Benzinga Pro, EL stock has lost over 31% in the past year.

In a significant leadership change, Estée Lauder announced the appointment of Stéphane de La Faverie as its new President and Chief Executive Officer, effective January 1, 2025. He will also join the Board of Directors, succeeding Fabrizio Freda, who has decided to retire after more than sixteen years with the company.

Also Read: Netflix Restructures Leadership, Bids Farewell to Two Key Executives

Freda has played a crucial role in steering the company through substantial growth and transformation during his tenure.

De La Faverie currently serves as Executive Group President, where he oversees a diverse portfolio of brands, including industry giants like Estée Lauder, as well as developing brands such as Jo Malone London, The Ordinary, and Le Labo. Before joining Estée Lauder in 2011, he was General Manager of Giorgio Armani Beauty USA, a division of L’Oréal Paris.

To ensure a smooth transition, Freda will work closely with de La Faverie over the coming months, fostering continuity and maintaining the company’s strategic direction as it embarks on this new chapter in leadership.

Meanwhile, William P. Lauder will resign as Executive Chairman but will continue to serve as Chair of the Board.

Investors can gain exposure to the stock via VanEck ETF Trust VanEck Morningstar Wide Moat Growth ETF MGRO and KraneShares Trust KraneShares Global Luxury Index ETF KLXY.

Price Action: EL shares are trading lower by 0.98% to $87.88 at last check Wednesday.

Photo via Wikimedia Commons

Also Read: