11.09.07
Estée Lauder looked beyond its borders to find new leadership. Last month, the company appointed Fabrizio Freda as president and chief operating officer, effective March 3, 2008. With this move, chief executive officer William P. Lauder has created a succession plan that anticipates Freda becoming CEO within 24 months. Freda was until recently president, global snacks, at the Procter & Gamble Company. At P&G, Mr. Freda led a global business with employees, factories and research and development centers around the world. In his long and successful career at P&G, Freda spent a decade in positions of increasing responsibility in the Health and Beauty Care division. Mr. Freda also directed marketing and strategic planning for Gucci SpA from 1986 to 1988.
"We welcome Fabrizio to The Estée Lauder Companies. 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," said Mr. Lauder.
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. Given the toughening conditions in the critical U.S. 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 U.S. and Canada," said Mr. Lauder.
Finally group president Philip Shearer will take on new responsibilities. "We have asked Philip to lead our strategy and new business team, focusing on mergers and acquisitions. 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," said Mr. Lauder.
"We welcome Fabrizio to The Estée Lauder Companies. 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," said Mr. Lauder.
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. Given the toughening conditions in the critical U.S. 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 U.S. and Canada," said Mr. Lauder.
Finally group president Philip Shearer will take on new responsibilities. "We have asked Philip to lead our strategy and new business team, focusing on mergers and acquisitions. 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," said Mr. Lauder.
