The Estée Lauder Companies Inc.
12/27/2024 | Press release | Distributed by Public on 12/27/2024 16:32
In Remembrance of Richard D. Parsons, Longtime ELC Board Member
In Remembrance of Richard D. Parsons, Longtime ELC Board Member
Company Feature, Dec 27, 2024
On December 26, 2024, Richard "Dick" D. Parsons, a long-serving member of The Estée Lauder Companies (ELC) Board of Directors, passed away. For more than two decades, Dick was an invaluable member of our company's Board of Directors, and a trusted advisor, mentor and friend to three generations of the Lauder family and company leadership.
Since joining ELC's Board in 1999, Dick brought to his role the hard-earned savvy of a diverse career, spanning fields and industries. A lawyer by training, he served as the former chairman of Citigroup, Chairman and CEO of Time Warner, and an economic advisor to former U.S. President Barack Obama. On ELC's Board, Dick served on numerous committees over the years; most recently, acting as a member of the Compensation Committee and the Nominating and ESG Committee.
Dick's extraordinary contributions in and through the private sector were matched by his longstanding commitments to social impact-commitments that complimented and strengthened our own efforts at ELC. The Brooklyn native was devoted to good works throughout his life; including, among many others, The Jazz Foundation of America, the historic Apollo Theater in Harlem, the Metropolitan Museum of Art, and the Smithsonian National Museum of African American History and Culture. Music, theater, dance, art, history, food-Dick loved and celebrated the fullest range of the human experience and endeavor. His efforts enriched countless lives, across the United States and around the world.
In this difficult moment, our hearts are with Dick's wife Laura, his three children, and the many lives he touched. You can read more about Dick's remarkable legacy in The New York Times.
Please join us in mourning the passing of a beloved ELC Board Member and see the statements below on behalf of the Lauder Family, the Board of Directors, and our Leadership Team.
Statement from William P. Lauder, on behalf of The Estee Lauder Companies' Board of Directors:
"On behalf of The Estée Lauder Companies' Board of Directors, my family, and our colleagues around the world, we join in mourning the loss of Richard D. Parsons. Dick was a sage counselor and steady hand providing more than two decades of service to our company and communities. Though we will miss him immensely, our company is better as a result of his committed service and the values he perfectly embodied: his humanity, his integrity, and his abiding optimism. We are deeply saddened by his passing, and forever grateful for his innumerable contributions."
Statement from Ronald S. Lauder on behalf of the Lauder Family:
"On behalf of the Lauder family, we are deeply saddened by the passing of Richard D. Parsons, a long-serving member of The Estée Lauder Companies' Board of Directors and trusted advisor, mentor, and dear friend to three generations of the Lauder family. Dick was an American original, a colossus bestriding the worlds of business, media, culture, philanthropy, and beyond. For more than a half-century, we were privileged to rely on his wisdom and insight as our counselor, mentor, and friend. Dick was as calm as he was courageous-always coolest, in fact, when the temperature would rise-particularly during moments of great challenge and opportunity. He led with singular influence and integrity, clarity and conviction, and inspired all around him to shape the world for the better. We ourselves are better for his partnership and our hearts are with his family and all the many lives he has deeply touched."
Statement from Fabrizio Freda, President & CEO The Estee Lauder Companies on behalf of the Company's leadership team:
"Richard D. Parsons left an immeasurable impact on our Company, and we are deeply saddened by his passing. Dick understood that the most important responsibilities of leadership are to listen and to learn - qualities that are invaluable to any global company - thus enabling management at all levels to make the best decisions with the most impactful results. He was a true partner in every sense and his legacy will forever be remembered."