Estée Lauder Cosmetics AS

The Estee Lauder Companies Elects Barry S. Sternlicht to Its Board of Directors

Pressmeddelande   •   Jul 16, 2004 09:03 CEST

NEW YORK--(BUSINESS WIRE)--July 15, 2004--The Board of Directors of The Estee Lauder Companies Inc. (NYSE:EL) has elected Barry S. Sternlicht as a Director, bringing the number of Directors to ten.

Mr. Sternlicht, 43, is currently the Chairman and Chief Executive Officer of Starwood Hotels & Resorts Worldwide, Inc., one of the world's largest hotel and leisure companies with more than 750 properties in over 80 countries. Mr. Sternlicht formed the company in 1995.

Leonard A. Lauder, Chairman of the Board of The Estee Lauder Companies, stated, "We're very pleased to announce that Barry Sternlicht is joining our Board of Directors. He is a global business leader whose acumen and knowledge of the luxury hotel and travel business, along with creating and building a portfolio of successful, highly respected brands, will be an asset to the Company and its stockholders."

Mr. Sternlicht is a trustee of Brown University and serves on the boards of numerous civic organizations and charities including the Committee to Encourage Corporate Philanthropy, Business Committee for the Arts, Inc., Channel 13/WNET, the Center for Christian-Jewish Understanding, Juvenile Diabetes Research Foundation International's 'National Leadership Advocacy Program', and Kids in Crisis. He also serves on the advisory boards of J.P. Morgan Chase & Co. and EuroHypo AG.

Mr. Sternlicht is filling the vacancy on the Board created when Fred H. Langhammer retired as President and Chief Executive Officer of The Estee Lauder Companies on June 30, 2004. Mr. Sternlicht will be a member of the Audit Committee.

The Estee Lauder Companies 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 more than 130 countries and territories under well-recognized brand names, including Estee Lauder, Aramis, Clinique, Prescriptives, Origins, MAC, La Mer, Bobbi Brown, Tommy Hilfiger, Donna Karan, Aveda, Stila, Jo Malone, Bumble and bumble, kate spade beauty, Darphin, Michael Kors and Rodan & Fields.

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