Ronald S. Lauder is retiring from the Estée Lauder Companies’ board, designating his daughter Jane and son-in-law Eric Zinterhofer as his successors. Lauder joined ELC in 1964 and has held various positions, remaining committed to the company as Chairman of Clinique Laboratories. The announcement follows recent notable departures from the board, marking a significant transition in leadership.
Ronald S. Lauder, a long-standing member of the Estée Lauder Companies (ELC) board, has announced his retirement effective immediately. This decision comes shortly after Stéphane de La Faverie assumed the role of President and CEO. As per the family’s stockholder agreement, Lauder retains the authority to nominate two directors, with his daughter, Jane Lauder, continuing her position on the board, while his son-in-law, Eric Zinterhofer, has been appointed as his second nominee.
Having joined ELC in 1964, Ronald Lauder has held various roles, serving on the board intermittently between 1968 and July 2009, and from 2016 until now. His experience extends beyond ELC; he formerly held the position of Deputy Assistant Secretary of Defense for European and NATO Affairs (1983-1986) and served as US Ambassador to Austria (1986-1987). Post-retirement, he will continue with ELC as Chairman of Clinique Laboratories.
Board Chair William P. Lauder praised Ronald’s enduring commitment, stating, “As a member of the Lauder family and director on the board, Ronald has been a steadfast advocate for the Estée Lauder Companies, our people and our brands.” He further welcomed Eric Zinterhofer, highlighting that Eric will contribute a fresh perspective aligned with the company’s core values.
Ronald expressed gratitude for his extensive tenure, stating, “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 believes that Eric’s insights will benefit the company’s future growth plans.
The announcement follows the recent departures of notable board members, including Richard Parsons, who passed away in December due to health issues, and Leonard Lauder, Ronald’s brother, who stepped down at the end of 2023 but remains as Chairman Emeritus.
The Estée Lauder Companies, founded by Estée Lauder, is a leading name in the beauty industry, engaging in cosmetics and skincare. Ronald S. Lauder has been an integral part of the company’s leadership for over five decades, contributing to its strategic direction. His retirement from the board represents a significant change in the company’s legacy, although he will still maintain a presence as Chairman of Clinique Laboratories. The transition coincides with leadership changes within the company, as a new president and CEO steps in.
In summary, Ronald S. Lauder’s retirement from the ELC board marks the end of an era for the company, although he will continue to play a vital role as Chairman of Clinique Laboratories. His daughter and son-in-law succeed him on the board, ensuring the Lauder family’s legacy endures. The recent changes in leadership maintain the company’s commitment to its core values and future growth strategies, reflecting on a dynamic transition ahead.
Original Source: cosmeticsbusiness.com
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