Reported about 2 months ago
Estee Lauder has announced the retirement of long-time CEO Fabrizio Freda as the company forecasts disappointing results for 2025, expecting sales growth to fall short of analysts' expectations. The global beauty market is grappling with reduced demand, particularly in China, prompting a 5% drop in the company's shares. Freda, who has been with Estee since 2008, will stay on until a successor is appointed while the company adapts to economic challenges.
Source: YAHOO