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 Procter & Gamble. 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.
At the same time, the company has announced chief operating officer Dan Brestle will be named vice chairman and president, ELC North America. Group president Philip Shearer will also lead the company’s strategy and new business team, focusing on mergers and acquisitions.
Mr. Shearer will also continue to lead the company’s fast-growing Aveda, Origins, Bumble and Bumble and Ojon brands. More info: www.elcompanies.com.