Ronald S. Lauder is stepping down and retiring from his position on the companyâs board of directors effective immediately, Estée Lauder Companies announced in a statement.
Lauder, who has the right to appoint two directors to the companyâs board, has selected his daughter Jane Lauder (who is currently on the board) and his son-in-law Eric Zinterhofer, as nominees. The companyâs board elected Zinterhofer following Lauderâs retirement. Lauder will retain his position as chairman of Clinique.
Lauder, who is the son of the cosmetics companyâs founder Estée Lauder, joined the business in 1964 and has served on its board for over 45 years, having first joined the board in 1968.
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