Estée Lauder appoints Stéphane de La Faverie as new CEO, succeeding Fabrizio Freda, as the Lauder family transitions away from day-to-day operations. The leadership change comes amid a turnaround effort following declining profits and sales, with the company forecasting lower earnings due to challenges in the Chinese beauty market. De La Faverie, who currently oversees key brands like Estée Lauder and The Ordinary, has been credited for implementing strategies to drive growth and innovation.
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