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Stock impact report

How Estée Lauder was plunged into a Succession-style crisis [Yahoo! Finance]

Estee Lauder Companies, Inc. (The) (EL) 
Last estee lauder companies, inc. (the) earnings: 5/1 06:45 am Check Earnings Report
US:NYSE Investor Relations: elcompanies.com/investors
Company Research Source: Yahoo! Finance
Over the past decade, however, his sentiments might have become less rosy. Having been president, CEO and chair of the board of directors for almost half a century, the now 91-year-old's exit last year has prompted a Succession -style crisis, with tumbling sales and nosediving share prices driving the family apart. This week, a letter leaked to the Wall Street Journal revealed that Jane Lauder, the youngest of Estée's four grandchildren, had privately implored board members to oust its long-time executive chair, William – her cousin. The pair had been vying to become chief executive since its current CEO announced he would be stepping down earlier this year. Once 51-year-old Jane, who joined the family firm in 1996, lost her bid, she relinquished her executive vice president role – and sent a missive accusing William of destroying the company. It was ultimately decided that Stéphane de La Faverie, an executive within the firm – crucially outside of the Lauder bloodline – would ta Show less Read more
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