Estee lauder promotion, chief operating officer for the CEO

Beijing time on Thursday evening news, estee lauder companies, EL) Wayne bridge, said it had appointed method Freda ( Fabrizio Freda) As President and chief executive officer, and will continue to implement the restructuring plan a year, to help offset the weak consumer spending. The company said last month that its restructuring plan including layoffs, namely % of employees, frozen merit increases, and continue to a hiring freeze. In addition to consumer spending fell, elegant shi landai also in response to the negative impact of the dollar on overseas sales. Freda, years old, he will succeed, old William Lauder ( 威廉·兰黛) , who will become executive chairman, and will serve as chairman of the board. Both appointments will be at the beginning of the fiscal year month day, namely the company to take effect. Freda previously served as estee lauder, President and chief operating officer, before joining the company, he worked for procter and gamble. Freda, said the company plans by restructuring cost savings, and to increase r&d investment. To the year, he said, the company plans to save $$$. To stimulate consumer spending, said freda, estee lauder plan improve the transparency of product price, because the price is more transparent, consumer reaction, the better. He said: 'the consumer is very interested in the value of the goods. 'Said freda, there are a lot of estee lauder and Clinique series product prices below $,' when consumers know this, they will buy. 'Most of the company products are sold in department stores, and the industry because of the traffic and weak consumer spending has been hit. However, freda said, estee lauder plan invest on online sales. He said: 'the network is our fastest growing sales channels. 'Citi investment research ( 花旗投资研究) Analysts - Wendy Nicholson ( 温迪·尼科尔森) Said, elegant shi landai is a personal care product industry in one of his favorite stocks, his rating on the stock to 'buy'. Nicholson said freda was appointed CEO estee lauder 'outsiders' the first truly, but the promoted to his work closely with the lauder family paved the way. Nicholson wrote in a client report: 'we believe in the ability of freda, believes he can lead estee lauder through the restructuring plan announced in early improve profitability. ”