NEW YORK -- The Estée Lauder Companies Inc. (NYSE: EL) announced that Carl Haney, Executive Vice President, Global Innovation and Research & Development (R&D), will depart the company effective June 30, 2025 to pursue new opportunities. With Carl’s transition, the company intends to bring in new external talent to drive the next era of transformative innovation in line with its strategic vision of becoming the best, most consumer-centric, prestige beauty company in the world.

“Over the past decade, Carl has forged impactful partnerships at the forefront of scientific innovation and delivered breakthrough products and superior formulations across categories, benefits and occasions, while fueling corporate innovation and advanced technologies,” said Stéphane de La Faverie, President and Chief Executive Officer, The Estée Lauder Companies. “As we look to the future and delivering our bold Beauty Reimagined vision, we will transform our approach to innovation across the company—which includes evolving the structure of our R&D team, expanding our external partnerships, strengthening product and commercial innovation and accelerating speed-to-market.”

Mr. Haney joined The Estée Lauder Companies in 2012 following a more than 25-year R&D career at The Procter & Gamble Company. Throughout his tenure at The Estée Lauder Companies, Carl and his team have advanced end-to-end product and corporate innovation by strengthening the company’s global R&D network, enhancing scientific credentialing, expanding local relevancy, building upstream active ingredient and fermentation platforms, and significantly increasing the company’s global patent portfolio. Under his leadership, the company has also accelerated sustainability efforts at the company through sustainable packaging and green chemistry advancements. Most recently, Mr. Haney and his R&D team have unveiled new collaborations at the forefront of biotech innovation, longevity, active derma and other critical areas with best-in-class academic partners including the Massachusetts Institute of Technology and Serpin Pharma, and diverse industries such as pharma to fuel new product pipelines. Previously, Carl played a critical role as Chair of the company’s Global Crisis Leadership Team, overseeing planning and response for emerging issues, current issues, and crises globally.

During this transition, Mr. Haney and the R&D team will prioritize business continuity and enabling transformative innovation. Brand and regional leadership will collaborate with their R&D partners across the company’s robust innovation network until a successor is named.

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include those in the various quotations. Although the Company believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, actual results may differ materially from the Company’s expectations. Factors that could cause actual results to differ from expectations include the ability to successfully implement the Company’s strategy, including Beauty Reimagined and the profit recovery and growth plan; successfully transition its leadership; and those other factors described in the Company’s filings with the Securities and Exchange Commission, including its most recent filings with the Securities and Exchange Commission. The Company assumes no responsibility to update forward-looking statements made herein or otherwise.