Business
Leonard A. Lauder
(Estée Lauder Companies)

Former Estée Lauder CEO Leonard A. Lauder passes away, leaving transformative beauty legacy

The longtime executive helped shape Estée Lauder into a global beauty leader with brand-defining deals and vision.

Longtime Estée Lauder Chairman Emeritus Leonard A. Lauder has passed away after more than 60 years with the company.

Leonard was the eldest son of Estée and Joseph H. Lauder, the founders of The Estée Lauder Companies. He officially joined the business in 1958, played a key role in its expansion, and was pivotal in the company’s transformation into a global beauty empire. He served as president from 1972 to 1995, CEO from 1982 to 1999, and chairman from 1995 through 2009.

In addition to establishing the company’s first research and development lab, Lauder was instrumental in acquiring some of the most recognizable names in beauty, including Aveda, Bobbi Brown, La Mer, and MAC Cosmetics.

Estée Lauder shares rose more than 10% Monday and is now flat on the year.

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Amazon doubles down on groceries with new private-label collection, sending grocery stocks lower

Amazon on Wednesday launched Amazon Grocery, a new private-label food brand that combines its Fresh and Happy Belly lines into one collection.

The label covers more than 1,000 staples, from milk and eggs to olive oil and fresh meat, with most items priced under $5. Shares of Amazon were little changed, but grocery-selling rivals Target, Walmart, and Kroger all slipped around 2% following the announcement. Costco also slipped about 1%.

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