The Estée Lauder Cos. annual meeting with shareholders ended with a crescendo Friday morning, when chairman Leonard Lauder declared that he planned to step down as chairman in two years and take on the role of chairman emeritus.
“I certainly hope William [Lauder] can succeed me as chairman,” said Leonard Lauder, referring to his son and the firm’s current president and chief executive officer.
Leonard Lauder has held the chairman post for 12 years, about the same period of time that Estée Lauder, his mother and the company’s founder, had occupied the role.
The announcement comes on the heels of the news that the family-run beauty firm has reached outside its world of prestige beauty to recruit Fabrizio Freda, until recently president of the Global Snacks division of Procter & Gamble Co., as the beauty group’s next president and chief operating officer, with plans to promote him to ceo within 24 months. Click here for the story of Freda’s appointment.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styled by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)