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Executive Summary

Lauder's Dan Brestle retires: The Estee Lauder Companies CEO William Lauder announces that Dan Brestle will retire after 30 years with the company. Brestle, currently vice chairman and president, ELC North America, will retire on June 30, 2009. "It is hard to believe that when Dan joined our company we had just three brands, less than $400 mil. in sales, and only one primary channel of distribution. With the help of Dan's unwavering dedication and leadership, our company has grown to be one of the industry leaders," CEO Lauder says in a March 13 letter to colleagues. Brestle joined the company in 1978 as a member of its operations group. He led the Prescriptives group during its spell of double-digit growth in the 1980s; in the 90s, as president of Clinique Laboratories, Brestle headed the team that launched Clinique Happy, Turnaround Cream, and other signature products. Members of Lauder management to assume Brestle's responsibilities will be announced in the coming weeks
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