Estee Lauder Cosmetics has appointed Procter & Gamble food chief Fabrizio Freda as president and chief operating officer. He will replace William P. Lauder when he takes over the role in March next year.
It is understood that Freda, previously president of the global snack division of P&G, will succeed Lauder as chief executive within two years. Leonard A Lauder is currently chairman of the company.
The move to recruit a leader from outside the company is a first for Estee Lauder and is being seen as an unprecedented shift in strategy for the beauty group. William Lauder says that he recruited Freda to inject a fresh viewpoint into the company and that his background with P&G will provide a European sense of global branding.
Freda joined P&G in 1982 and spent ten years in the health and beauty care division. He later moved to Gucci, where he was head of marketing and strategic planning.
Freda will oversee Estee Lauder’s 28 brands, which include Bobbi Brown, Jo Malone, Darphin and Clinique.