Estée Lauder Cosmetics AS

The Estee Lauder Companies Announces Management Changes; Focus is on Global Growth, Brand Building and Leadership

Pressmeddelande   •   Okt 29, 2004 15:53 CEST

Patrick Bousquet-Chavanne Broadens Global Role; John Demsey Named Global Brand President, Estee Lauder

The Estee Lauder Companies Inc. (NYSE: EL) today announced two senior management changes. "The new roles are aimed at continuing to develop the Company's expertise as a global brand builder," stated William P. Lauder, President and CEO of The Estee Lauder Companies.

Based on his pivotal role in revitalizing the Estee Lauder brand, Patrick Bousquet-Chavanne, Group President in charge of Estee Lauder, M--A--C, Aramis & Designer Fragrances, will expand his responsibilities to focus on developing a European headquarters for global brand acquisition and multi-channel development of non-department store markets in order to further global growth and achieve the Company's goal of becoming a $10 billion cosmetics company. "The Estee Lauder brand has undergone a rebirth under the strong guidance of Patrick Bousquet-Chavanne," said Mr. Lauder. "He is a visionary and tenacious business leader. I look forward to his invaluable support as we analyze the significant opportunities on the horizon."

In a second move, John Demsey, currently President of M--A--C, will take over global responsibilities for the Estee Lauder brand from Mr. Bousquet-Chavanne. As President of the Estee Lauder brand on a worldwide basis, he will continue to evolve the brand equity that has been developed during the last few years. Mr. Demsey will work closely with Mr. Bousquet-Chavanne in the coming months to ensure that the momentum that has begun for the flagship brand continues. Under Mr. Demsey's guidance, the M--A--C brand has become the fastest-growing makeup-artist brand in the Company. The brand is currently distributed in more than 45 countries worldwide. "John's spirit, creativity and entrepreneurial know-how have driven the vitality of the M--A--C brand. He is the perfect choice to continue the evolution of the Estee Lauder brand," said Mr. Bousquet-Chavanne.

"The Estee Lauder Companies is rich with talented people," said Mr. Lauder. "We are committed to providing opportunity to tap into that talent in new and different ways in order to grow our business. Bottom line, our two biggest assets are our people and our brands. We are very excited by these recent appointments," he continued.

The Estee Lauder Companies Inc. is one of the world's leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company's products are sold in over 130 countries and territories under well-recognized brand names, including Estee Lauder, Clinique, Aramis, Prescriptives, Origins, M--A--C, Bobbi Brown, Tommy Hilfiger, La Mer, Donna Karan, Aveda, Stila, Jo Malone, Bumble and bumble, kate spade beauty, Darphin, Michael Kors, Rodan + Fields, American Beauty, Flirt! and Good Skin(TM).

An electronic version of this release can be found at the Company's Website, www.elcompanies.com.

CONTACT: The Estee Lauder Companies Inc.
Investor Relations:
Dennis D'Andrea, 212-572-4384
or
Media Relations:
Sally Susman, 212-572-4430
SOURCE: The Estee Lauder Companies Inc.