The Estée Lauder Companies Inc. (EL) is experiencing a rise in its stock price following the announcement of a significant leadership change. On December 2, 2024, the company revealed that Stéphane de La Faverie has been appointed as the new President and Chief Executive Officer, effective January 1, 2025. This decision comes after Fabrizio Freda, the current CEO, announced his retirement plans earlier this year. De La Faverie, who has been with the company since 2011 and most recently served as Executive Group President, is expected to bring his extensive experience in prestige beauty to his new role. The transition is anticipated to be smooth, with Freda supporting de La Faverie in the coming months.
Estee Lauder's stock is currently trading at $73.44, reflecting a 1.83% increase from its previous close of $72.12, and a 1.28% rise from its opening price of $72.51.