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
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
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 Estée Lauder 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