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Lauder Completes Planned Senior Management Succession

Posted: March 26, 2009

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“It is a great honor to lead this fantastic company to even greater heights of success,” said Freda. “I’m pleased to have gained the confidence of the Lauder family, the board and, most of all, the company’s greatest asset—its more than 30,000 employees worldwide. As we embark on this next chapter, guided by our new corporate vision to imagine, integrate and innovate, we expect to deliver unparalleled creativity, improve efficiency and unite the brands and regions into a cohesive whole.”

“Fabrizio is a superb leader. In just one year, he has done a tremendous job in leading the implementation of our company’s long-term strategic plan,” said William Lauder. “Fabrizio expertly balances the need for greater efficiencies and financial discipline while fostering innovation and creativity. I believe we have great potential to continue to develop groundbreaking, innovative products, grow market share, and find new avenues of distribution as the leading prestige beauty player worldwide.”

“I am extremely proud of how far William has taken the company during his tenure as CEO," said Leonard Lauder. "During his watch, the company accelerated its international growth significantly, particularly in China and Russia, and successfully expanded its global reach by entering new countries such as India and Vietnam. William was the driving force in expanding distribution into new channels, including company-owned free-standing stores and the fast growing direct response television channel. He also led the company’s e-commerce initiative, which today is our fastest growing channel."

Prior to joining The Estée Lauder Companies, Freda had a 20-year career at Procter & Gamble, where he was responsible for various operating, marketing and key strategic efforts. Earlier in his career he directed marketing and strategic planning for Gucci SpA. Freda earned degrees in economics and business administration from the University of Naples, Italy.