Patrick Bousquet-Chavanne has resigned as a group president of Estée Lauder after 17 years with the company. His resignation is effective June 30.

In a letter to employees, CEO William P. Lauder said Mr. Bousquet-Chavanne will pursue entrepreneurial opportunities outside the industry. Sources say he will take a post with a venture capitalist involved with the internet.

During his career with Estée Lauder, Mr. Bousquet-Chavanne played a key role in the company's international expansion.

This is the second group president to leave Estée Lauder in the past several months. Philip Shearer resigned on Nov. 30 to join Groupe Clarins.