Estée Lauder Names First Chief Sustainability Officer: 3 Things to Know
May 1, 2023 by Joe Panettieri
The Estée Lauder Companies Inc. has promoted Senior VP Nancy Mahon to chief sustainability officer (CSO), reporting to CEO Fabrizio Freda and Executive Chairman William P. Lauder. Mahon is the first CSO at the cosmetics giant.
Here are three things to know about the announcement:
1. Estée Lauder's Scope and Scale: Founded in 1946, the company's skincare, makeup and fragrance products are sold in roughly 135 countries and territories. The New York-based firm had nearly 25,000 employees listed on LinkedIn as of May 2023. Net sales were $4.62 billion in Q2 of fiscal 2023. The company's website includes Sustainability and Product Responsibility statements.
2. Mahon's Role as CSO: Mahon continues to focus on the strategic integration and implementation of ELC’s sustainability initiatives, as well as ESG reporting across the organization, the company said. Mahon previously senior VP for global citizenship and sustainability since 2014. Her focus since that time has involved ELC’s climate and environmental initiatives, with a focus that includes energy, emissions, packaging, and ingredient traceability.
3. Executive Perspectives: In a prepared statement about Mahon's role, CEO Fabrizio Freda said: “Sustainability has long been central to how The Estée Lauder Companies and its brands have operated, and is a key part of our corporate strategy. We are committed to continuously evolving to drive our sustainability initiatives forward and helping to innovate and connect at both local and global levels, ultimately positioning us well to succeed in a changing global economy. Appointing Nancy to Chief Sustainability Officer is an example of our company’s ambition and focus on these initiatives."
4. Bonus - Why Technology Partners Should Care: By 2027, 25% of Global 2000 companies will have assigned a chief sustainability officer (CSO) responsible for meeting their organization’s ESG goals and making ESG-related IT purchasing decisions, according to IDC. Technology partners need to extend their sales, marketing, engagement and support strategies to fulfill those CSOs needs, Sustainable Tech Partner believes.