Estée Lauder nominates Michael Bowes as Executive Vice President, Chief People Officer

USA – The Estée Lauder Companies, a global leader in prestige beauty, has appointed Michael Bowes as Executive Vice President, Chief People Officer, effective April 1, 2025.

Following this appointment, Bowes would be reporting directly to President and CEO Stéphane de La Faverie.

He will drive the organisation forward by focusing on continuous culture building and overseeing all areas of Global Human Resources, including talent management, career development and organisational design.

Michael Bowes will succeed Michael O’Hare, Executive Vice President and Chief Human Resources Officer, who announced his retirement and will resign on April 1, 2025. 

He will work closely with Michael O’Hare over the coming months to ensure a seamless transition.

Stéphane de La Faverie, President and CEO of The Estée Lauder Companies, said,  “Micheal’’s strategic vision, commitment to talent development, and ability to foster collaboration across our global organisation make him the ideal leader to shape the future of our workforce.”

“Michael’s promotion to EVP, Chief People Officer, reflects his exceptional track record and unwavering commitment to making ELC a place where all employees can thrive, innovate, and grow.”

He joined ELC in 2015, and during his time with the company, Michael has demonstrated his commitment to supporting individual growth through sponsoring programs, including From Every Chair and Leading with High Touch, being active in the Reverse Mentor program, and promoting opportunities and development for many team members within HR.

Estée Lauder Companies recently reported its fiscal 2025 second-quarter results, with net sales of $4.0 billion, a decrease of 6% from the same period last year.

 Despite the decline in sales, the company’s gross margin expanded by 310 basis points to 76.1%, primarily driven by benefits from its Profit Recovery and Growth Plan (PRGP).

 However, the operating margin declined to (14.5)% from 13.4% in the prior-year period, reflecting $861 million from goodwill and other intangible asset impairments and $181 million from accelerated productivity program spend. 

Adjusted diluted earnings per share (EPS) decreased by 25% to $2.59.

In addition, Estée Lauder Companies launched its new strategic vision, Beauty Reimagined, to restore sustainable sales growth and strengthen profitability. 

This initiative aims to transform the company’s operating model to be leaner, faster, and more agile.