William P. Lauder and Fabrizio Freda Announce A Strategic Organizational
Evolution for The Estée Lauder Companies
NEW YORK -- November 15, 2012
Executive Chairman William P. Lauder and President and Chief Executive Officer
Fabrizio Freda of The Estée Lauder Companies Inc. (NYSE:EL) today announced an
organizational evolution which reflects the outstanding global growth of the
Company, and strengthens its historic brand focus to become even more locally
relevant. This evolution also creates further exciting growth opportunities
for the Company’s talent worldwide.
Mr. Freda stated, “Great organizations are dynamic, evolving as markets change
and as skills of the organization grow. In 2009, we strengthened our Company
by creating roles that enabled our leaders to best leverage their expertise.
The results have been far-reaching. Today, we work even more collaboratively
and decisively, and this evolution will drive our future success.”
Specifically, under the enhanced organizational design, the Company will
expand its number of Group Presidents, from two to four, adding two new senior
positions to top management. The Company will also further realign its brands
to leverage additional innovations and strategic synergies, increasing their
ability to become even more locally relevant and ensuring sharp focus on the
greatest opportunities globally.
Key highlights of this organizational evolution, effective January 1, 2013,
include the following:
Thia Breen has been named to the new position of Group President North
America, building on her outstanding success leading the Company’s home market
while continuing to develop the Company’s strong retailer partnerships within
the region. Ms. Breen will oversee both the U.S. and Canadian affiliates, to
further drive growth in these markets.
Lynne Greene has been named to the new position of Group President, continuing
to oversee the Clinique, Origins and Ojon global brands, with the addition of
the Aveda and Darphin brands. The strategic regrouping of these brands under
Ms. Greene’s exceptional leadership will further develop their innovation
synergies while continuing to deliver growth in their respective priority
channels. Ms. Greene will also join the Company’s Investment and Development
Committee (IDC) to help guide global M&A strategy.
Ms. Breen and Ms. Greene will continue to report to Fabrizio Freda.
We are also announcing the realignment of several global brand positions and
increased responsibilities of other leaders in the Company.
“We owe the success of our Company to our great leaders and people. The
redesign we are announcing today expands the roles of several of our most
senior executives and positions our Company for sustained profitable growth. I
am confident that given their new responsibilities, this team will continue to
deliver superior results, further inspiring and motivating our dynamic
culture,” Mr. Lauder stated.
The forward-looking statements contained in this press release, such as those
in the remarks by Mr. Lauder and Mr. Freda, are subject to risks and
uncertainties. Factors that could cause actual results to differ from those we
expect, such as competition, changes in the beauty industry and the risks of
doing business abroad, are set forth in our annual report on Form 10-K for the
year ended June 30, 2012 and our quarterly report on Form 10-Q for the quarter
ended September 30, 2012.
The EstéeLauder Companies Inc.is one of the world’s leading manufacturers
and marketers of quality skin care, makeup, fragrance and hair care products.
The Company’s products are sold in over 150 countries and territories under
the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab
Series, Origins, M•A•C,Bobbi Brown,Tommy Hilfiger, Kiton, La Mer,Donna
Karan, Aveda,Jo Malone, Bumble and bumble,Darphin,Michael Kors, American
Beauty, Flirt!,GoodSkin Labs,Grassroots Research Labs,Tom Ford, Coach,
Ojon, Smashbox,Ermenegildo Zegna, Aerin Beauty and Osiao.
An electronic version of this release can be found at the Company’s Website,
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