No.22 - FABRIZIO FREDA (ESTEE LAUDER)

Age: 60

Years at current company: 9

Nationality: Italian

Industry: Cosmetics

Turnover: $13bn

Rate of growth: 34% since 2011

In less than five years, Fabrizio Freda has given ­Estee Lauder a complete makeover. To attract a younger clientele, he has engaged massively with millenials, which these days represent two-thirds of the workforce. The Italian businessman, who covets L’Oreal’s number-one spot in the cosmetics industry, aims to continue targeting the younger generation. In 2017 he bought Too Faced, a 100% online beauty and cosmetics company, for 1.5 billion dollars.

Notable success: Five years after his arrival, the market capitalization of Estée Lauder has multiplied by eight, going from 6.6 billion to 53 billion dollars.