THE WHAT? The Estée Lauder Companies has announced the retirement of Ronald S. Lauder from its Board of Directors, effective immediately.

THE DETAILS As part of his transition, Mr. Lauder has named Eric Zinterhofer, his son-in-law and a founding partner of Searchlight Capital Partners, as his successor. Zinterhofer will now serve on the Board alongside Jane Lauder, Ronald’s daughter.

THE WHY? Commenting on the transition, Board Chair William P. Lauder acknowledged Ronald’s invaluable contributions and welcomed Zinterhofer, expressing confidence in his ability to contribute to the company’s long-term growth. Ronald S. Lauder echoed his commitment to the company’s legacy, stating that Zinterhofer’s fresh perspective aligns with the family’s vision and values.