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ELC Underscores its Commitment to New Business Development and Growth with Key Appointments
Press Release, Oct 1, 2018
Andrew Ross Promoted to Executive Vice President, Strategy and New Business Development
Lisa Sequino Appointed Senior Vice President, Global General Manager, BECCA
NEW YORK, NY – October 1, 2018 – Today, The Estée Lauder Companies Inc. (NYSE:EL) announced that it is elevating two senior leaders into key roles, helping to continue its strong new business growth momentum. Andrew Ross has been promoted to Executive Vice President, Strategy and New Business Development, effective immediately. Andrew will continue jointly reporting to Fabrizio Freda, President and Chief Executive Officer and Tracey T. Travis, Executive Vice President and Chief Financial Officer and will remain a member of the company’s Executive Leadership team. Additionally, effective October 1, 2018, Lisa Sequino has been appointed to Senior Vice President, Global General Manager, BECCA, reporting to Fabrice Weber, President, Prestige and Artisanal Fragrances and New Brands Empowerment Group. Ms. Sequino will join the company’s Extended Executive Leadership team.
Since joining the company in September 2016 as Senior Vice President, Strategy and New Business Development, Mr. Ross has played an integral role, in close partnership with the CEO and CFO, in developing both the company’s 10-Year Strategic Compass and its corporate strategy, which is pivoting the business to win and helping to drive long-term sustainable growth. Mr. Ross was critical in developing and leading many of the strategic choices that helped the company achieve its strong track record of performance, in the context of a dynamic industry and volatile geopolitical backdrop.
Mr. Ross also further refined our approach to new business due diligence and has developed key relationships with founders early in the discovery process. Under his leadership of New Business Development, the company acquired two of its fast growing brands: BECCA, and the company’s biggest acquisition to date, Too Faced.
“Central to our record performance has been our ability to unleash the power of our brand portfolio and our multiple engines of growth. Andrew’s excellent pulse on industry and consumer trends, and his acute ability to identify areas to strengthen and diversify our brand portfolio, has led to the growth of our business through a mix of sound strategic choices and impactful acquisitions,” said Mr. Freda. “This promotion celebrates Andrew’s outstanding leadership and his continued efforts in driving the strategy to gain competitive advantage and capture growth opportunities today and well into the future.”
The company continues to emphasize its commitment and investment in new brands with the appointment of Ms. Sequino, who succeeds Bob DeBaker. Mr. DeBaker will be taking on special projects for the company effective October 31, 2018 and he will continue to report to Mr. Weber. Ms. Sequino and Mr. DeBaker will work closely together on a smooth transition. In her role, Ms. Sequino will be responsible for continuing to build and amplify BECCA’s global brand equity, developing and executing the brand strategy, and advancing the global business.
“Lisa’s deep command of brand strategy, combined with her terrific acumen for retailer and channel relations, especially within specialty-multi, where BECCA has a significant presence, make her a perfect fit to lead this dynamic brand and team,” said Mr. Weber. “We are thrilled to welcome Lisa to this new role and look forward to seeing her lead BECCA into its next chapter of growth.”
In her most recent position as Senior Vice President, General Manager, Estée Lauder and AERIN Beauty – North America, Ms. Sequino oversaw the development and execution of the North America go-to-market strategy for the company’s namesake brand, and has been responsible for AERIN Beauty as it continues to grow its luxury fragrance and beauty business in North America. In her role, Lisa enabled terrific growth and improved profitability for the Estée Lauder brand in North America. Under her leadership, the brand gained share in North America in key subcategories, including face serum and foundation, and across key online channels. She also oversaw the successful expansion of the brand into Ulta and strengthened the department store business. Claudia Benshimol succeeds Ms. Sequino, as announced separately.
More on the Backgrounds of Andrew Ross and Lisa Sequino
Before joining the company, Mr. Ross served as Executive Vice President and Chief Strategy Officer at ConAgra Foods, Inc., where he led the formulation of ConAgra’s corporate strategy, including oversight of portfolio strategy and mergers and acquisitions, and collaborated with cross-functional leaders to drive short-term priorities and long-term growth initiatives. Previously, Mr. Ross was a Principal at McKinsey & Company, Inc., where he gained extensive experience leading McKinsey’s global retail and consumer goods pillars of the business for nearly a decade.
Prior to her role with Estée Lauder and AERIN Beauty, Ms. Sequino was Vice President, Key Account Management – Specialty-Multi, North America, where she was responsible for the development of short and long-term acceleration strategies and financial plans. Her leadership helped identify significant incremental retail sales opportunities in Sephora and Ulta. Ms. Sequino joined the company in 2013 to help lead Global Consumer Engagement, International Expansion and North America strategy for TOM FORD BEAUTY, and Global Marketing for several brands including Michael Kors and Tory Burch. Previously, Ms. Sequino held several leadership roles at Procter & Gamble which spanned Business Development, Disruptive Innovation, Global Influencer Marketing and Merger and Acquisitions.
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About The Estée Lauder Companies Inc.
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 brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, M·A·C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, By Kilian, BECCA and Too Faced.