The succession drama follows reported turmoil among controlling family members

The Estée Lauder Companies appointed a new chief executive officer last month amid trouble with sales and an announcement that the company would cut its quarterly dividend by almost half. The shake-up followed signs of disagreement over succession strategy among the Lauder family members on the company’s board.

…The Lauder family owns 38% of the company’s total common stock and controls about 86% of the voting power, according to the company.
Some 16 companies in the S&P 500 are controlled, according to data from public company intelligence provider MyLogIQ. CEOs of these companies tend to have a slightly longer median tenure compared to non-controlled companies: 5.5 years and 5 years, respectively.