"As a member of the Lauder family and Director on the Board, Ronald has been a steadfast advocate for The Estée Lauder Companies, our people, and our brands," said William P. Lauder, Chair of the Board of Estée Lauder Companies, in a statement. "His dedication and strategic vision have been integral to ensuring our company is built upon a strong foundation," Mr. Lauder said. "I would also like to welcome Eric to the Board." Mr. Zinterhofer is stepping into the position with extensive financial and business expertise. He is currently a founding partner of private equity firm Searchlight Capital Partners. "As a member of the family, Eric will continue to champion the values at the heart of our company while bringing a fresh perspective at this pivotal moment," Mr. Lauder said. "We are confident Eric's significant governance experience, strategic insight, and industry knowledge will be an asset to the company and advance our plans for long-term growth."