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.
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