Leonard A. Lauder To Remain Chairman Emeritus Of Estée Lauder Companies; Board Nominates Gary Lauder For Election At Annual Meeting In November
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Leonard A. Lauder will remain as Chairman Emeritus of Estée Lauder Companies. The board has nominated Gary M. Lauder, Leonard's son, to serve on the board. Leonard Lauder has the right to designate two directors of the company.
August 24, 2023 | 8:34 pm
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Estée Lauder Companies' board has nominated Gary M. Lauder for election at the annual meeting in November. Leonard A. Lauder will remain as Chairman Emeritus.
The news is directly related to Estée Lauder Companies (EL). The nomination of Gary M. Lauder to the board is a significant event, but it's not clear how it will affect the company's stock price in the short term. Leonard A. Lauder remaining as Chairman Emeritus is a continuation of the status quo, which is generally seen as a positive by the market.
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