P&G Vet Named President, COO of Estee Lauder

The Estée Lauder Companies Inc. announce the appointment of 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 chief executive officer within 24 months. Freda was president, Global Snacks, at the Procter & Gamble Company. There, 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. Freda also directed marketing and strategic planning for Gucci SpA from 1986 to 1988. At the same time, the company announces Chief Operating Officer Dan Brestle will be named vice chairman and president, ELC North America. Also, Group President Philip Shearer will take on new responsibilities and lead Estée Lauder’s strategy and new business team, focusing on mergers and acquisitions.