Cedric Prouvé, group president of international at The Estée Lauder Cos. Inc., has revealed plans to retire.
Prouvé will retire from his role effective June 30, 2022. His successor has yet to be named, although a statement from the company said Prouvé will assist in the transition period starting in February.
The executive began his career at the company in 1994, when he started as general manager of travel retail in the Asia-Pacific region. He then held several roles before being promoted to the role of group president, international in 2003.
“When I joined the company, we were basically a U.S.-based corporation exporting, and international really transformed from being a set of export markets to being globally integrated in the company,” he said. “When I started in 2002, we were slightly over 40 percent of the company, and now we are at about 75 percent.”
After nearly 20 years helming the business, Prouvé said he had a very specific milestone in mind as his most significant, which was met more than a decade ago. “I remember Leonard [A. Lauder, chairman emeritus] asking me how I was going to set my goals. I said we are over 40 percent of the company, and I wanted to flip it to 60 percent,” he said. “He wrote on one of his blue notes and gave it to me. I remember doing everything in 2010, and I had kept the blue note. We were on our way to today’s 75 percent.”
Prouvé thanked the Lauder family, in addition to chief executive officer Fabrizio Freda, and the roughly 140 general managers he worked with throughout his time as group president.
“In a rapidly changing industry, Cedric [Prouvé]’s strategic vision, inspiring leadership style and unique team-building abilities have been integral to the success of Estée Lauder Cos.’ international business, and we are well positioned for future growth,” said Freda in a statement. “I have greatly enjoyed my close partnership with Cedric over the years, and I would like to thank him for leading our international organization with a great blend of enthusiasm, thoughtfulness, and most especially, kindness. His positive energy, dynamic style, caring nature and deep international expertise will truly be missed.”
William P. Lauder, executive chairman of the Estée Lauder Cos., also lauded Prouvé’s close tabs on emerging markets.
“Throughout his career, Cedric’s keen ability to lead with our company values and foster meaningful partnerships across the enterprise has led to significant contributions across the business, while also enriching our company’s culture,” Lauder said in a statement. “We have all benefited from Cedric’s strategic insights and his candid and charismatic communication style. On behalf of the company and the Lauder family, I would like to wish Cedric the very best in his well deserved retirement.”
Internationally minded as ever, Prouvé said travel was topping his list of goals for retirement. “We have a huge list of places we want to go for pleasure,” he said. “We have a little bit of a scattered family, so we’re making sure we visit everybody and we can see the world in a different way.”
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