Executive Shuffle Complete at Estée Lauder

Estée Lauder Companies Inc. has announced the completion of its senior management succession plan, which will put into motion the company's four-year makeover strategy.

Chief Operating Officer, Fabrizio Freda, 51, will take over as Chief Executive Officer, while current CEO, William P. Lauder, 48, will become Executive Chairman and serve as Chairman of The Estée Lauder Companies’ Board of Directors. Leonard Lauder, the current Chairman of the Board will remain on the board and serve as Chairman Emeritus. Mr. Freda will also join the board.

The appointments will take effect on July 1, 2009 at the start of the company's fiscal year 2010.

It'll be interesting to see how Mr. Freda will maneuver throughout the EL corporate culture. He's a non-Lauder, only the second to take the helm of the ship, and surrounded by Lauder family members either on the board or employed in the company. Will they allow Mr. Freda the freedom to implement new strategies, such as implementing market research strategies he learned during his tenure at Proctor & Gamble? Stay Tuned....