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Changes in Lauder Dynasty Hardly Cosmetic

Posted Feb 27, 08 2:16 PM CST in Business 

(Newser) – Estée Lauder might be a massive, publicly owned company, but it’s also a family business, tightly controlled by the Lauder clan—until now. On Monday, it will welcome new president Fabrizio Freda, who will likely eventually replace CEO William Lauder—and become the first outsider to run the cosmetics giant. The Wall Street Journal takes a look at the complicated family politics.

William’s legendary father, Leonard, never stopped watching his every move as CEO, while his uncle Ronald sold millions in stock to finance outside interests—including art and politics. “This is a company built on the ideas of a small group of people, and they're all named Lauder,” William Lauder said of his pursuit of Freda. “I needed an outside person.”

Source Wall Street Journal

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Socialite Aerin Lauder and William Lauder attend the launch of her new fragrance "Private Collection Tuberose Gardenia" at Saks Fifth Avenue on July 12, 2007 in New York City. Estée Lauder plans to reach...   (Getty Images)
Estee Lauder's William Lauder is shown at a press conference in this file photo.   (KRT Photos)
Estée Lauder products are seen here in this undated file photo.   ((c) ookikioo)
Estée Lauder products are arranged in this file photo. "Leading a public company is a sentence, but leading a publicly held, family-controlled business is a life sentence," said William Lauder. "I didn't...   ((c) ookikioo)
Aerin Lauder, Estee Lauder's grand-daughter, poses for the photographers, during the inauguration of her fragrance at a central London department store, Wednesday Ooct. 10, 2007. (AP Photo/Lefteris Pitarakis)   (Associated Press)
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An Estee Lauder Launch Party is documented in this YouTube video.   (FashionTV (YouTube))

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family  • CEO  • University of Pennsylvania  • Proctor  • cosmetics  • Whitney Museum  • Ronald Lauder  • Estee Lauder  • Leonard Lauder  • Lauder family philanthropies


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