Today, The Estée Lauder Companies (NYSE:EL) (“ELC”) announced
that Mark Loomis, currently President, Asia/Pacific, will be
appointed President, North America, effective February 1,
2022. Mark will report directly to Fabrizio Freda, President and
Chief Executive Officer, and he will remain a member of ELC’s
Executive Leadership Team. An announcement regarding Asia/Pacific
leadership will follow.
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ELC Appoints Mark Loomis as President,
North America (Photo: Business Wire)
“We are thrilled that Mark will take on leadership of our home
market in North America,” said Fabrizio Freda,
President and Chief Executive
Officer. “Mark has successfully built and led
high-performance organizations throughout his 25 years at The Estée
Lauder Companies, delivering incredible results through his
visionary strategic leadership and collaborative style. I look
forward to our continued close partnership as Mark leads our
talented North America team to build on their successes as the
region continues to gain momentum.”
As President, North America, Mark’s responsibilities will
include guiding the North America Leadership Team to help maximize
sales, profitability, and market share growth in the company’s
dynamic and fast-evolving home market. He will build on the
region’s many successes, leveraging his commercial expertise to
help drive the business strategy, fuel the recovery, and unlock
opportunities across brands, consumers, and channels.
Mark will have accountability for top- and bottom-line results
in the U.S. and Canada across brands and channels. Working closely
with the North America Leadership Team, he will drive ELC’s
continued transformation as a digital-first organization fueled by
Online. He will leverage the company’s strong retailer
relationships to help optimize productivity and create exceptional
omni-experiences for consumers.
Mark will partner closely with ELC’s Group and Brand Presidents
and Function leaders on innovation pipeline sufficiency, elevated
brand equity-building, and resource allocation to the largest
growth opportunities. He will nurture the region’s organizational
culture to enable brands to execute their strategies with the
greatest support, focus, speed, and agility, while also driving
greater integration and best practices across the portfolio.
Mark has had an exemplary 25-year career with ELC, much of it
spent in Asia, with deep global leadership experience spanning the
company’s brands, channels, regions, and affiliates. In these
roles, he has delivered exceptional results, successfully leading
strategically significant beauty markets, including ELC’s
businesses in Canada and Japan.
As President, Asia/Pacific, since 2018, Mark has led the region
to extraordinary new heights through regional strategies that
support business acceleration and commercial operations to drive
growth across all 13 Asia/Pacific affiliates. His tenacity in
identifying and driving key business opportunities helped to grow
net sales for Asia/Pacific significantly and double the region’s
Online business between fiscal 2019 and 2021.
Mark was instrumental to the company’s multi-year transformation
initiative focused on elevating and growing the company’s business
in the Asia/Pacific region and winning with the Chinese consumer
domestically and abroad. He has partnered closely with Joy
Fan, newly appointed President and CEO, China, as well as the
Travel Retail team, in one of the most competitive and dynamic
prestige beauty markets in the world. He has also been central to
the development of enterprise-wide initiatives to serve consumers
with speed, innovation, and local-relevance, including the
company’s investment in the first-ever manufacturing facility in
Japan, the expansion of ELC’s innovation capabilities through its
new China Innovation Center in Shanghai, as well as the acquisition
of Dr.Jart+ and Do The Right Thing in 2019.
“Throughout his tenure, Mark has demonstrated an unwavering
commitment to business success, while also commanding the deep
respect of everyone with whom he engages and cultivating a strong
sense of ambition, belonging, and pride across the company,” said
William P. Lauder, Executive Chairman. “Mark’s
inspiring leadership abilities, strong strategic vision, and focus
on business performance and results are matched only by his
commitment to our teams, making him well suited to take on this
role at the helm of ELC’s home market in North America.”
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements may address our expectations
regarding sales, earnings or other future financial performance and
liquidity, other performance measures, product introductions, entry
into new geographic regions, information technology initiatives,
new methods of sale, our long-term strategy, restructuring and
other charges and resulting cost savings, and future operations or
operating results. Factors that could cause actual results to
differ materially from our forward-looking statements are described
in the Company’s filings with the U.S. Securities and Exchange
Commission, including its Annual Report on Form 10-K for the fiscal
year ended June 30, 2021. The Company assumes no responsibility to
update forward-looking statements made herein or otherwise.
About The Estée Lauder Companies Inc. The Estée Lauder Companies
Inc. is one of the world’s leading manufacturers, marketers and
sellers of quality skin care, makeup, fragrance and hair care
products. The Company’s products are sold in approximately 150
countries and territories under brand names including: Estée
Lauder, Aramis, Clinique, Lab Series, Origins, Tommy Hilfiger,
M·A·C, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo
Malone London, Bumble and bumble, Michael Kors, Darphin Paris, TOM
FORD BEAUTY, Smashbox, Ermenegildo Zegna, AERIN, Le Labo, Editions
de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced,
Dr.Jart+, and the DECIEM family of brands, including The Ordinary
and NIOD.
ELC-C ELC-L
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Investors: Rainey Mancini rmancini@estee.com
Media: Jill Marvin jimarvin@estee.com
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