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The succession plan at the Estée Lauder Cos. seems to be coming into focus.
WWD has learned that Jane Lauder is stepping down from her role as chief data officer and executive vice president, enterprise marketing, at the end of this year. She will remain an active member of the board of directors of the company that was founded by her grandmother, Estée Lauder, in 1946.
Her departure comes at a time when speculation is swirling around the next leader of the company. As reported, Fabrizio Freda revealed in August that he will retire by the end of next year, although sources indicate it is highly likely that a successor will be named before then. Executive group president Stéphane de La Faverie and Jane Lauder were thought to be the top two internal candidates for the role.
With the departure of Lauder, de La Faverie seems to be in pole position to take the helm.
In an internal memo obtained by WWD announcing her departure, Lauder wrote, “The company is embarking on a necessary and fundamental turnaround. I have thought about how I can be most effective in helping the company reclaim its rightful position as the world’s leader in prestige beauty and restore long term shareholder value.”
Lauder said that she will be available “as an advisor to the CEO on The Profit Recovery and Growth Plan efforts through the end of ELC’s fiscal year,” and that she intends to work solely as a board member and committed shareholder.
“This change will allow me to have the greatest impact and influence on ELC’s future,” she wrote. “In this role, I intend to focus on the company’s strategic imperatives, growth profile, and the requisite transformational change.”
Jane Lauder’s departure means that there will be no Lauder family members working in the day-to-day operations of the company, although Aerin Lauder is a consultant on the brand that bears her name under the Estée Lauder banner.
The Lauder family overall owns 35 percent of the company’s total common stock and about 84 percent of the outstanding voting power.
In a note to employees seen by WWD, executive chairman William P. Lauder praised the leadership and impact of Jane Lauder, whose career spanned 28 years at the company. “In her current role, she has built and led a global team in accelerating our company’s data-driven enterprise-wide marketing, data and technology strategies, including the deployment of Artificial Intelligence and cutting-edge technology tools and capabilities to advance the way in which we gather and apply consumer insights, trends and high-touch experiences,” he wrote.
During her tenure Jane Lauder served as global brand president of several brands, including Clinique, Darphin and Origins. At Clinique, she is credited for increasing the brand’s online sales and launching a next-gen skin diagnostic tool called Clinique Clinical Reality. As the head or Origins, she drove the brand’s “Powered by Nature, Proven by Science” positioning and launched several best-selling products, including the Plantscription and Ginzing ranges.
A well-respected leader among her colleagues who has been lauded for never resting on her family’s laurels, Jane Lauder spoke of key leadership lessons earlier this year at WWD’s Women in Power conference. There, she highlighted the importance of women being able to see themselves in leadership roles. She learned several lessons from her grandmother, she said, though the biggest is that you can be everything you want to be.
“What’s so important is that the biggest barrier for women leaders is not being able to see themselves in positions of leadership, and that’s what’s so important in making sure we have this network of women,” she said. “It’s about supporting women on their journey.”
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