In choosing Stéphane de La Faverie as the new CEO, Estée Lauder is banking on his extensive knowledge of the company and its existing turnaround plan, which is crucial in times of slow beauty spending.
Linda Bolton Weiser noted that de La Faverie's familiarity with Estée Lauder will allow him to avoid a lengthy adjustment phase, enabling him to implement changes swiftly amidst ongoing challenges.
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