The Estée Lauder Group announces departure of founder’s granddaughter Jane Lauder

As it prepares to release its quarterly results on October 31, U.S. cosmetics group Estée Lauder is announcing another high-profile departure: Jane Lauder, granddaughter of company founder Estée Lauder.

Jane Lauder, who has previously led brands Clinique and Origins and has served as chief data officer and executive vice president of marketing since 2020, will step down from her position at the end of the year. However, Lauder will retain her seat on Estée Lauder’s board of directors.

This announcement comes amid a series of executive departures, including CFO Tracey T. Travis, who will leave her role on November 1, and CEO Fabrizio Freda, who is set to retire in June, with a successor yet to be named.

For the 2023/24 fiscal year, which ended on June 30, Estée Lauder reported revenues of $15.61 billion (€13.9 billion), marking a 2% decline in sales and a net profit of $390 million, down from $1 billion the previous year.

The cosmetics group continues to feel the impact of the downturn in Asian travel retail and weakened demand in China. The Lauder family currently holds around 35% of the company’s capital.