Estee Lauder forecasted annual profit and sales below estimates as the global beauty market struggles with slowing demand mainly in the China market and said CEO Fabrizio Freda was retiring after nearly 16 years at the helm. Freda, 66, who is retiring in June, was named the CEO in 2009 and was responsible for expanding the company's skincare portfolio with the addition of brands such as Dr. Jart and The Ordinary owner Deciem. He also steered the company through pandemic-induced supply chain snags when Estee ...