Estée Lauder's Leonard Lauder Won't Run for Re-Election to Board
August 24 2023 - 5:32PM
Dow Jones News
By Adam L. Cataldo
Estée Lauder said on Thursday that Leonard Lauder, the company's
chairman emeritus, has decided against running for re-election to
the board of directors.
Leonard Lauder would continue in his role as chairman emeritus,
the company said.
Pursuant to the stockholders' agreement among the Lauder family
and the company, Leonard Lauder has the right to designate two
directors. Along with his son William Lauder, who serves as
executive chairman, Leonard Lauder has designated his son Gary
Lauder to serve on the board, the company said.
Gary Lauder would be included in among the nominees for election
to the board at the company's annual meeting in November. He is the
managing director of Lauder Partners LLC, a Silicon Valley-based
venture capital firm, the company said.
Leonard Lauder formally joined the Estée Lauder Cos. in 1958. He
served as president from 1972 to 1995, and as chief executive
officer from 1982 to 1999. He became board chairman in 1995 and
served in that role through June 2009, until he was named chairman
emeritus.
Write to Adam Cataldo at adam.cataldo@wsj.com.
(END) Dow Jones Newswires
August 24, 2023 17:17 ET (21:17 GMT)
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