Estée Lauder Expands Board, Adds Zannino

The Estée Lauder Companies Inc. has expanded its board of directors to 14 members and elected Richard F. Zannino as a director effective January 14, 2010. He will also serve as an additional member of the audit committee.

“Interesting that finance guru, Richard Zannino, is to join Estee’s board,” observed Happi columnist, Colin Hession, managing director of specialist cosmetics and toiletries consultants, Colin Hession Consulting. But more significant, we think, is the company’s appointment 3 days ago of a SVP to head up Mr.Freda’s new global Strategic Modernization Initiative – we think the title says it all!”

Zannino, 51, is a managing director at the private equity firm CCMP Capital Advisors, LLC, a position he has held since July 2009. He is on the firm’s investment committee and co-heads the consumer, retail and media practices. Prior to joining CCMP Capital, he was chief executive officer and member of the board of Dow Jones & Company from February 2006 until his resignation in January 2008, shortly after its acquisition by News Corp.

“We are very pleased that Rich Zannino is joining our board of directors,” said William P. Lauder, executive chairman of The Estée Lauder Companies Inc. “Rich’s broad-based experience at various retailing and media companies and his financial expertise will be an asset to our Company and its stockholders.”

Mr. Zannino also serves as a director of IAC/InterActive Corp. and a trustee of Pace University.