Prominent business figure and former CEO, Leonard Lauder – son of the Lauder cosmetics founders – passes away at 92 years old.
Updated Obituary
Leonard Lauder, the pioneering figure who spearheaded the expansion of his family's cosmetics empire, Esteé Lauder Companies, and left an indelible mark on the beauty industry and philanthropic community, has passed away at the age of 92. The beloved business leader, art collector, and philanthropist breathed his last on Saturday, surrounded by his family.
Known for his exceptional benevolence, Leonard believed fervently that art and education were every person's birthright. His dedication to philanthropic causes, such as Alzheimer's and breast cancer research, is widely admired. "My father was a man who embodied generosity with kindness," said William Lauder, Leonard's son and the current chairman of Esteé Lauder's board of directors.
Leonard was born in 1933, sharing his birth year with his mother, who laid the foundations of the company that would soon become a global giant[2]. Immensely proud of his family's enterprise, Leonard wrote in his memoir titled "The Company I Keep" that he fondly recalled his mother concocting facial creams on their stove as he and the business grew together, forging an unbreakable bond[3].
From a humble start in a small New York City factory, where he worked after school for 25 cents an hour[4], Leonard rose through the ranks, reaching management roles in 1958. He served as president from 1972 to 1995, CEO from 1982 to 1999, and chairman from 1995 to 2009. Even after stepping down from these positions, he remained actively involved with the company as chairman emeritus.
Lauder's leadership ushered in the creation of Clinique and the acquisition of several prestigious beauty and fashion brands, turning Esteé Lauder Companies into a $16 billion global powerhouse in the process[1]. Under his vision, the company went public in 1995, maintaining significant family control.
An avid art collector, Leonard amassed an extensive collection of works by Picasso and other Cubist artists over the years. In 2013, he pledged $1 billion worth of these works to the Metropolitan Museum of Art in New York[5].
Leonard Lauder leaves behind an enduring legacy that extends far beyond the world of business. His compassionate leadership, commitment to uplifting women in leadership, and unwavering dedication to philanthropy will inspire future generations.
- In his memoir, "The Company I Keep", Leonard Lauder recounted the growth of Esteé Lauder Companies, a business he was intimately involved with since his childhood, starting from a small New York City factory.
- Beyond his contributions to the beauty industry, Leonard Lauder's philanthropic endeavors, particularly his dedication to educational causes, were a testament to his belief that art and education were everyone's birthright.
- The financial acumen demonstrated by Leonard Lauder in his role as chairman, CEO, and president of Esteé Lauder Companies not only propelled the company to become a $16 billion global powerhouse but also marked his success in the realm of entrepreneurship and finance.
