Estée Lauder to name new president and COO
The Estée Lauder Companies has appointed Fabrizio Freda president and COO, effective March 3, 2008. According to the company, William P. Lauder, Estée Lauder’s current CEO, plans to make Freda CEO within 24 months.Freda was previously president, global snacks, for Procter & Gamble. During his long career at P&G, Freda spent a decade working in the company’s health and beauty care division. He also directed marketing and strategic planning for Gucci S.p.A. from 1986 to 1988.
“We welcome Fabrizio to The Estée Lauder Companies,” said William Lauder. “He has a proven track record in the consumer products arena and a passion for consumer-inspired innovation.”
Many of Estée Lauder’s key global brands will report to Freda, including Clinique and specialty brands Bobbi Brown, La Mer, Jo Malone, Darphin, and the Aramis and Designer Fragrances division, which will continue to be led by group president Patrick Bousquet-Chavanne. Freda will also oversee Estée Lauder’s international business, which accounts for more than 50% of the company’s sales under the continuing direction of group president, international, Cedric Prouve. Also under Freda’s guidance will be Estée Lauder’s global operations, research and development, and packaging.
In other Estée Lauder news, the company has named former COO Dan Brestle vice chairman and president of Estée Lauder North America. “In this newly created role, Dan will continue to oversee the Estée Lauder, M-A-C, Prescriptives, and Tom Ford Beauty brands, which continue to be led by group president John Demsey, and the BeautyBank division on a worldwide bases,” said Lauder. “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. Dan will coordinate the company’s efforts to better leverage our broad portfolio across multiple distribution channels in the U.S. and Canada.”
Finally, group president Philip Shearer has also been assigned new responsibilities. “We have asked Philip to lead our strategy and new business team, focusing on mergers and acquisitions,” says Lauder. “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.”