In turn, it is expected that William Lauder will succeed his father Leonard Lauder as Chairman. At last week’s shareholder meeting in New York, Leonard Lauder confirmed that he planned to step down from that role within two years, and take on the position of Chairman Emeritus.
Freda was until recently President, Global Snacks, at the Procter & Gamble Company (P&G). At P&G, Freda led a global business with employees, factories and research and development centres around the world. He has spent a decade in positions of increasing responsibility in the Health and Beauty Care division. Freda also directed marketing and strategic planning for Gucci SpA from 1986 to 1988.
“We welcome Fabrizio to The Estée Lauder Companies,” said William P. Lauder. “He is one of the world’s most talented global executives and a true internationalist with the experience and capability to drive our dynamic global business.
“Additionally, he has a proven track record in the consumer products arena and a passion for consumer-inspired innovation. Fabrizio is a strategically focused, financially disciplined, results-oriented leader with an incredibly warm personal style.”
“The Estée Lauder Companies has extraordinary brands and terrific opportunities around the world,” commented Freda. “I am delighted to partner with William Lauder. Together, we will build upon the growth prospects and maintain the sterling values for which this Company is so well respected.”
Reporting to Freda will be many of the Company’s key global brands, including Clinique, as well as the Specialty Brands such as Bobbi Brown, La Mer, Jo Malone, Darphin and the Aramis and Designer Fragrances division, which continue to be led by Group President Patrick Bousquet-Chavanne; the Company’s International business, which accounts for more than 50% of sales, under the continuing direction of Group President – International, Cedric Prouve; Global Operations; Research and Development; and Packaging.
At the same time, the Company has announced Chief Operating Officer Dan Brestle will be named Vice Chairman and President, ELC North America. “In this newly created role, Dan will continue to oversee the Estée Lauder, MAC, Prescriptives and Tom Ford Beauty brands, which continue to be led by Group President John Demsey, and the BeautyBank division on a worldwide basis,” said Lauder.
“Given the toughening conditions in the critical US marketplace, I’ve also given Dan a mandate to lead our North American business in a more cohesive way. With this new responsibility, Dan will coordinate the Company’s efforts to better leverage our broad portfolio across multiple distribution channels in the US and Canada.”
Group President Philip Shearer will also take on new responsibilities. “We have asked Philip to lead our strategy and new business team, focusing on mergers and acquisitions,” added Lauder.
“This charge draws on Philip’s abilities to creatively assess new trends and talent and on his keen analytical skills. Philip will also continue to lead our fast-growing Aveda, Origins, Bumble and bumble and Ojon brands, as well as the Company’s online business.”
MORE STORIES ON THE ESTEE LAUDER COMPANIES
Estée Lauder creates Re-Nutriv body care – 08/11/07
First-quarter net sales increase +7% at The Estée Lauder Companies – 29/10/07
Estée Lauder enhances its Resilience and Repair – 15/10/07
Estée Lauder redefines the golden age of lipstick – 11/10/07
