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The founding family of estee lauder has withdrawn from company management, and the stock price has plummeted 66% over the past two years.
The two members of the founding family of Estee Lauder, a European cosmetic giant, will resign from their current positions at the company. This marks the first time in 75 years that no family members are involved in the daily management of the company, which is facing the worst prospects in many years. On Thursday, the company lowered its performance expectations for the remaining time of this fiscal year, and its USA-listed stocks experienced the largest decline ever. The company stated that the reason for the forecast downgrade is the increased uncertainty in its China business, as well as the new CEO who will take office in January next year. Over the past two years, Estee Lauder has repeatedly lowered performance expectations, leaving an impression on Wall Street that the company executives are not"}
