The Estee Lauder Companies' execs -- William P. Lauder, chairman, and Fabrizio Freda, CEO -- announced today that the company will undergo an "organizational evolution," in order to reflect its outstanding global growth. Its goal is to strengthen its brand focus, and become even more locally relevant.
"Great organizations are dynamic, evolving as markets change, and as skills of the organization grow. In 2009, we strengthened our company by creating roles that enabled our leaders to best leverage their expertise. The results have been far-reaching," said Freda. He continued, "Today, we work even more collaboratively and decisively, and this evolution will drive our future success."
The plan intends to create growth opportunities for several leaders within the company, as it has for Lynne Greene and Thia Breen
, who were named group presidents. ELC will also realign several global brand positions, increasing responsibilities for other executives.
“We owe the success of our Company to our great leaders and people. The redesign we are announcing today expands the roles of several of our most senior executives and positions our Company for sustained profitable growth. I am confident that given their new responsibilities, this team will continue to deliver superior results, further inspiring and motivating our dynamic culture,” stated William Lauder.