Cosmetics giant Estée Lauder has tapped senior executive Stéphane de La Fèvre to take over as its CEO. The Wall Street Journal reported on MondayCiting people familiar with the matter.
In August the company said CEO Fabrizio Freda was retiring next year And will continue to be an advisor to his successor in fiscal year 2026.
La Fèvre is currently Chairman of the Executive Group at the company, with brands such as Estée Lauder, Jo Malone London, Le Labo and Kilian Paris in her portfolio. He joined the company in 2013 and before that was a senior executive at L’Oréal.
According to the Wall Street Journal, Jane Lauder, who was among potential CEO candidates, told employees in a memo that she would step down from her executive role at the company at the end of the year.
Estée Lauder did not immediately respond to a Reuters request for comment.
The company’s shares were up about 1%.
La Fevre’s potential appointment comes at a time when the company is facing stressed demand global beauty market struggleEspecially in China.
Last week, French cosmetics giant L’Oreal reported a decline in quarterly sales due to low consumer confidence in China.
The WSJ said Estée Lauder is expected to announce its CEO selection as soon as this week. The company is scheduled to present quarterly results on Thursday.
