Estee Lauder expected to keep Freda as CEO, WSJ reports

Fabrizio Freda is expected to remain in CEO role at Estee Lauder despite its sagging performance and division in the founding family over direction, The Wall Street Journal’s Emily Glazer and Sabela Ojea report. According to people familiar with the discussions, board members discussed Freda’s future at a meeting in late May, and directors talked about extending the CEO’s 15-year tenure beyond June when certain financial grants vest. Lead independent director Charlene Barshefsky and Executive Chairman William P. Lauder say that the board fully supports Freda and his plan to boost growth, profitability and speed to market.