Estee Lauder (EL) has picked longtime senior executive Stephane de La Faverie to take over as its CEO, Emily Glazer and Natasha Khan of Wall Street Journal report, citing people familiar with the matter. Jane Lauder, who was among the potential CEO candidates, told staff in a memo that she would step aside from her executive role at the company at the end of the year, the Journal adds. La Faverie currently oversees brands such as Jo Malone London and Le Labo fragrance. Estee is expected to announce the CEO selection as soon as this week, sources told the Journal.
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