SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
______________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) :
September 26, 2002
The Estee Lauder Companies Inc.
(Exact name of registrant as specified in its charter)
Delaware 11-2408943
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
767 Fifth Avenue, New York, New York 10153
(Address of principal executive offices) (Zip Code)
Commission File Number: 1-14064
212-572-4200
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Item 9. Regulation FD Disclosure.
On September 26, 2002, The Estee Lauder Companies Inc. named William P. Lauder
Chief Operating Officer. A copy of the press release is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
THE ESTEE LAUDER COMPANIES INC.
Date: September 26, 2002 By: /s/Richard W. Kunes
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Richard W. Kunes
Senior Vice President
and Chief Financial Officer
(Principal Financial and
Accounting Officer)
THE ESTEE LAUDER COMPANIES INC.
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release dated September 26, 2002 of the Estee Lauder
Companies Inc.
The News
Estee Contact:
Lauder Investor Relations:
Companies Inc. Dennis D'Andrea
(212) 572-4384
Media Relations:
767 Fifth Avenue Sally Susman
New York, NY 10153 (212) 572-4430
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FOR IMMEDIATE RELEASE
THE ESTEE LAUDER COMPANIES NAMES WILLIAM P. LAUDER
CHIEF OPERATING OFFICER
Philip Shearer Succeeds William P. Lauder as Group President for
Clinique, Origins and Online
Cedric Prouve to Become Group President, International
New York, NY, September 26, 2002 - The Estee Lauder Companies Inc. (NYSE:EL)
announced today that Group President William P. Lauder will become Chief
Operating Officer. In a series of related moves, the Company also named
Philip Shearer as Group President for Clinique, Origins and Online,
Cedric Prouve as Group President, International, and Christopher Wood as
President and General Manager of The Estee Lauder Companies' affiliate in Japan.
All of the appointments are effective January 1, 2003.
Mr. Lauder, 42, joined The Estee Lauder Companies in 1986 and has contributed to
the Company's success in numerous roles. Most recently he has served as Group
President, with responsibility for two major brands, Clinique and Origins, as
well as management of the Company's online division, including the Gloss.com
joint venture with Chanel and Clarins, and its retail division, which includes
freestanding stores. He was the architect of the Company's freestanding store
strategy and store-within-store concepts. Previously, Mr. Lauder served as
President of Clinique from 1998 to 2001; Vice President and General Manager,
then President, of Origins between 1990 and 1998; Field Sales Manager for
Prescriptives from 1988 to 1990; and Regional Marketing Director of Clinique
U.S.A. between 1986 and 1988. He has been a member of the Board of Directors
since 1996. He is a grandson of Mrs. Estee Lauder, the Company's founder.
Mr. Lauder will report to Fred H. Langhammer, the Company's President and Chief
Executive Officer.
"William combines an intuitive sense of our business with excellent
relationships across the industry," said Mr. Langhammer. "By virtue of his many
experiences, he is one of the most knowledgeable executives in the global
cosmetics business. I am particularly pleased to have such a dedicated and
talented professional at my side to help us build on our track record of growth
and achievement.
"I can count on William's leadership in driving our most important priorities:
accelerating speed-to-market of new and exciting products, opportunistically
introducing our new brands in overseas markets, maximizing our distribution
channels and further strengthening our relationships with customers and
retailers," continued Mr. Langhammer. "Together, with William's appointment as
Chief Operating Officer and the Group Presidents, we have a management team of
extraordinary depth and breadth."
Dan Brestle, currently Group President in charge of the Company's portfolio of
Specialty Brands; Ed Straw, President of Global Operations; Cedric Prouve in his
new role as Group President, International; Andrew Cavanaugh, Senior Vice
President of Global Human Resources and Ken Stone, Vice President of Retail
Store Development will all report to Mr. Lauder.
Philip Shearer, 50, presently Group President, International, will become Group
President, The Estee Lauder Companies, succeeding Mr. Lauder and reporting to
Mr. Langhammer. Mr. Shearer's new role includes global responsibility for
Clinique and Origins, as well as management of the Company's online activities.
Mr. Shearer joined The Estee Lauder Companies in September 2001 as Group
President, International. He joined L'Oreal in 1987 and held several management
positions of increasing responsibility throughout his tenure, including Managing
Director of the Lancome division in the United Kingdom from 1988 to 1992
followed by President of the Luxury Product Division of L'Oreal in Japan from
1992 to 1993. From 1993 to 1998 he was General Manager then President, of
Lancome and in 1998, he was appointed President of the Luxury Products Division
of L'Oreal U.S.A.
"In the 12 months since Philip joined our Company, he has gained the respect of
our entire organization," stated Mr. Langhammer. "He combines marketing and
commercial fundamentals into a comprehensive strategic business viewpoint. His
extensive domestic and international experience provide him with a unique
insight into the strengths and opportunities of the brands and distribution
channels that are part of his new responsibilities."
Succeeding Mr. Shearer as Group President, International, will be Cedric Prouve,
42, who has been President and General Manager of The Estee Lauder Companies'
Japanese affiliate since 2000. In his new position, Mr. Prouve will be
responsible for sales and profits for the Company in all markets outside of
North America and for all activities of its sales affiliates and distributor
relationships worldwide. He will also oversee the Company's Travel Retail
business. He will report to Mr. Lauder.
Mr. Prouve joined The Estee Lauder Companies in 1994 as General Manager of
Travel Retail for Asia/Pacific and was given the added responsibility of the
Company's Singapore affiliate in 1995. From 1997 until his appointment as
President and General Manager of the Japan affiliate, he was
Vice President/General Manager of the Company's worldwide Travel Retail
division.
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"Cedric brings a keen understanding of the strategic balance between strong
global brands and the expert application of localized marketing and sales
initiatives to his new role as Group President, International," said Mr. Lauder.
Christopher Wood to Be Appointed President and General Manager of
The Estee Lauder Companies in Japan
Christopher Wood, 42, the current Director and General Manager of The Estee
Lauder Companies Korean affiliate, will succeed Mr. Prouve as President and
General Manager of the Company's Japanese affiliate. He will report to
Mr. Prouve.
Mr. Wood has held his current position since 2000. Prior to this, he served in
increasingly important brand management roles in the Company's German and
Canadian affiliates. He joined The Estee Lauder Companies in 1993 as Executive
Director, Field Marketing for Europe for Estee Lauder International.
"Chris has demonstrated outstanding leadership skills and his ability to analyze
difficult issues and inspire both his Company colleagues and our retail partners
to develop successful solutions has delivered excellent results,"
said Mr.Prouve. "I'm confident he will continue to have similar successes in
Japan."
William Lauder in his new role as Chief Operating Officer will report to
Mr. Langhammer, along with Patrick Bousquet-Chavanne, Group President for Estee
Lauder, Fashion Fragrances and M.A.C; Philip Shearer, Group President, Clinique,
Origins and Online; Mr. Richard Kunes, Senior Vice President and Chief Financial
Officer; Mr. Paul Konney, Senior Vice President, General Counsel and Secretary;
Mr. Joseph Gubernick, Senior Vice President for Corporate Product Development;
and Ms. Pauline Brown, Vice President Corporate Strategy and New Business
Development, will all continue to report to Mr. Langhammer.
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, jane,
Donna Karan, Aveda, Stila, Jo Malone, Bumble and bumble, and kate spade beauty.
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