NEW YORK--(BUSINESS WIRE)--The Estée Lauder Companies Inc. (NYSE: EL) today announced the appointment of Tracey T. Travis as Executive Vice President and Chief Financial Officer. She will jointly report to William P. Lauder, Executive Chairman and Fabrizio Freda, President and Chief Executive Officer. Ms. Travis will assume her new position on August 20, 2012.
Ms. Travis brings a wealth of global financial experience, having worked for a number of Fortune 500 consumer product companies in a variety of industries during her career. Since 2005, Ms. Travis has been Senior Vice President and Chief Financial Officer of Ralph Lauren Corporation, responsible for Global Finance, Internal Audit, Treasury, Tax, Business Development, Investor Relations and Global Information Technology. Ralph Lauren Corporation is a global designer and marketer of premium lifestyle products and brands across the apparel, home, accessories and fragrance categories.
Previously, Ms. Travis was Senior Vice President, Finance and Chief Financial Officer of Intimate Brands for Limited Brands, Inc. from 2001 to 2004. She also spent a decade at PepsiCo Inc. and the Pepsi Bottling Group, where she held operations management and finance roles. She began her career as an engineer and a senior financial analyst at General Motors Co.
Ms. Travis will succeed Richard W. Kunes, a 26-year veteran of the Company. In August 2011, Mr. Kunes announced his plans to retire and stated his intention to continue to serve as Executive Vice President and Chief Financial Officer until such time as his successor began to serve in such capacity. Mr. Kunes will become Executive Vice President, Senior Advisor to the Chief Executive Officer, working on special projects and will assist Ms. Travis during a transition period.
“We are thrilled that Tracey is joining The Estée Lauder Companies’ leadership team. Her broad background in all facets of global finance will be a tremendous asset to our growing organization,” Mr. Lauder said. “I also want to thank Rick for his immeasurable contributions as CFO for the last 12 years. He’s served as a terrific advisor to me and under his tenure, the Company has achieved record financial results. Among his many accomplishments, he has helped implement greater financial discipline and developed a strong team that has positioned us as the leader in global prestige beauty.”
“I am looking forward to working closely with Tracey as we continue to implement the Company’s successful long-term growth and profitability improvement strategy and strive for even greater global financial successes in the years ahead,” Mr. Freda said. “Tracey has valuable business experience in consumer products, luxury brands, operations and finance and we believe her skills and background will be a terrific fit with our Company and will help us continue to drive value creation for our stockholders.”
Mr. Freda added, “Rick has been an invaluable partner and his financial talents and business acumen have been instrumental in driving our strategy and performance. He has been an important member of the Company’s senior leadership team and his innumerable contributions over more than two decades have helped drive our strong financial results and position the Company for a solid future.”
In her new role, Ms. Travis will be a member of several of the Company’s senior management leadership groups, including the Executive Leadership Team, Program Management Team, Investment Development Committee, Fiduciary Investment Committee and Corporate Risk Management Committee.
“I am delighted to join the Estée Lauder Companies with its outstanding global reputation, strong portfolio of brands, and incredibly talented people. I look forward to being a strategic partner with William Lauder, Fabrizio Freda, the Global Finance team and the rest of the organization as the Company continues to successfully execute its long-term growth strategy,” said Ms. Travis.
Ms. Travis is also involved in many other organizations. She is a member of the Board of Directors of Campbell Soup Company, as well as on the boards of the Lincoln Center Theater and the Women’s Forum of New York. She also sits on the Executive Advisory Board of the Program for Financial Studies at Columbia University’s Graduate School of Business and is a member of the Board of Trustees of the University of Pittsburgh.
Ms. Travis graduated from the University of Pittsburgh with a Bachelor of Science in Industrial Engineering and in 2009 the University honored her with a Distinguished Alumni Award. She earned a Masters of Business Administration in finance and operations management from Columbia University.
The Estée 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 150 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M-A-C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors, American Beauty, Flirt!, GoodSkin Labs, Grassroots Research Labs, Missoni, Tom Ford, Coach, Ojon, Smashbox and Ermenegildo Zegna.
An electronic version of this release can be found at the Company’s website, www.elcompanies.com.
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