EL: Jennifer Hyman to Retire from Board Nov 2026

Estée Lauder Companies Inc. (EL) was founded in 1946 and reports a fiscal year ending June 30. Key recent historical items relevant to this board retirement include: - FY2025 write-downs and restructuring: The company recorded goodwill and intangible asset impairments totaling approximately $1.4 billion (including a $773 million TOM FORD trademark impairment and impairments related to Too Faced) and cumulative restructuring charges of about $680 million through June 30, 2025. These items contributed to a reported net loss of $(1,133) million for FY2025 and a reported operating margin of (5.5)%. - Recovery in H1 FY2026: For the six months ended December 31, 2025, net sales were $7,710 million (+5% YoY), net earnings were $209 million, and diluted EPS improved to $0.57. Gross margin improved to 73.4% in Q2 FY2026 (three months ended Dec. 31, 2025). - Transformation programs: ‘‘Beauty Reimagined’’ and the PRGP are active enterprise initiatives focused on cost structure, go-to-market optimization and asset-related actions. Through Dec. 31, 2025, restructuring-related charges totaled $1,228 million, and the company projected that approved initiatives would be substantially completed by end of FY2027. - Capital structure snapshot: As of Dec. 31, 2025, cash and cash equivalents were $3,082 million, total assets $19,634 million, total debt approximately $7,300 million, and total equity $4,031 million. Outstanding shares at Dec. 31, 2025 included 247.2 million Class A shares and 114.5 million Class B shares. This retirement should be read against that recent history: it is a board governance event occurring while the company continues to execute a multi-year restructuring and pursue margin recovery.