NY-ESTÉE-LAUDER

Today The Estée Lauder Companies (NYSE:EL) announced that after nearly 13 years with the company, Gregory F. Polcer, Executive Vice President, Global Supply Chain, has made the decision to retire, effective July 1, 2021. He will be succeeded by Roberto Canevari, who will assume the role of Executive Vice President, Global Supply Chain, effective May 1, 2021. Roberto will report directly to Fabrizio Freda, President and Chief Executive Officer. Greg will work closely with Roberto over the next several months to support a smooth and successful transition.

“Greg has led ELC’s Global Supply Chain with a great blend of strategic insight and innovative thinking,” said Mr. Freda. “He has evolved our Supply Chain organization into a truly integrated, state-of-the-art global network that touches all aspects of our business and drives tremendous value. He has also been instrumental in elevating and operationalizing our core principles of safety and sustainability, and has been an enthusiastic and vocal champion of Inclusion & Diversity within his team and across the enterprise. Greg’s genuinely positive energy, enthusiastic leadership style and unique interdisciplinary expertise will be truly missed.”

“I am thrilled to welcome Roberto to The Estée Lauder Companies,” continued Mr. Freda. “He is a highly respected and talented supply chain expert and global leader who has successfully helmed and transformed the end-to-end supply chain organizations of several global, luxury, and brand-led companies. Throughout his career, he has consistently driven exceptional product quality and customer experience, as well as forward-looking sustainability strategies and practices. Roberto brings a unique combination of operational expertise and creative passion to ELC. I look forward to partnering closely with him to continue to innovate and improve our world-class supply chain organization.”

Please find further information about Gregory’s tenure and Roberto’s appointment below.

Gregory F. Polcer to Retire as Executive Vice President, Global Supply Chain

A strategic expert in his field, Greg leveraged his unique background in general management and finance to lead ELC’s Supply Chain organization to continuously adapt ahead of an increasingly complex global landscape. He has developed and nurtured strong relationships with top suppliers and organizations around the world, prioritizing collaboration and innovation to responsibly and ethically create the most luxurious, efficacious and safe beauty products, with sustainability in mind. Greg was particularly influential in strategizing and implementing ELC’s approach to responsible sourcing principles for sensitive supply chain and human rights issues. He also led the development of new manufacturing and distribution centers in several key regions, focused on global supply sufficiency. Under his leadership, ELC’s manufacturing and distribution sites maintained safety as their top priority.

Greg was a key architect of the company’s Global Corporate Citizenship and Sustainability (GCCS) function, and, through his work with the Global Environmental Affairs and Safety (EAS) team, led many of the initiatives that set the foundation for the company’s GCCS goals, particularly in the area of environmental operations.

A champion and steward of ELC’s core values, Greg’s innovative and inclusive team-building approach is reflected in an exceptional supply chain organization that has continuously driven best practices in quality and safety, while fostering an integrated culture of collaboration across the enterprise.

Greg’s longstanding commitment to Inclusion & Diversity included supporting and nurturing the Women in Supply Chain Employee Resource Group, which currently has more than 200 active members globally. Additionally, together with Sara Moss, Vice Chairman, Greg recently became a co-Executive Sponsor for the Open Doors Women’s Leadership Training Pilot Program, a new leadership development program that provides employees with experiential learning and executive coaching opportunities.

“I am deeply proud of all that my team and I have accomplished,” said Greg Polcer. “ELC’s Supply Chain has consistently advanced ahead of the curve, successfully collaborating and innovating to sustainably, responsibly and ethically deliver the most sought-after beauty products in the world. While the decision to retire is of course bittersweet, I know that the incredible Supply Chain team – with Roberto’s deep expertise and natural leadership abilities at the helm – is positioned well for its next chapter of growth.”

Roberto Canevari Appointed Executive Vice President, Global Supply Chain

As Executive Vice President, Global Supply Chain, Roberto will oversee the company’s Global Supply Chain operations, including end-to-end procurement, manufacturing, planning, quality assurance and logistics for our diverse brand portfolio across all channels and geographies. He will work to develop and implement innovative strategies and solutions to meet and exceed the demands of our global consumers, while partnering closely with brand and function leaders to leverage emerging trends, drive innovation and continuously improve processes. Additionally, building on the company’s long-term, outstanding relationships with global suppliers, Roberto’s focus will include strengthening and strategically evolving partnership models, prioritizing safety, sustainability, and responsible sourcing to help continue to create the most luxurious and efficacious beauty products.

Roberto has held supply chain leadership roles across a variety of industries. He most recently served as Unilever PLC’s Executive Vice President of Supply Chain, Europe, where he oversaw end-to-end supply chain operations for the company’s European business, and was responsible for a team of more than 10,000 employees and 44 factories with production across the food, home and personal care categories. Prior to that, Roberto was Chief Supply Chain Officer at Burberry Group PLC for nearly seven years, where he transformed the company’s global supply chain scope and strategy, developing new methods for omnichannel fulfillment and leveraging manufacturing resources to manage upstream quality.

Among his key achievements at Burberry, Roberto led the improvement of service-to-consumer KPIs and continuously elevated product quality, while improving cost performance to meet margin targets. Notably, he also played a significant role in Burberry’s Responsibility and Sustainability agenda, helping lead the company to be consistently listed at the top of the Dow Jones Sustainability Index for their industry globally.

Prior to his time with Burberry, Roberto served in executive supply chain roles of increasing responsibility at several high-profile global companies, including as Group Supply Chain Executive Director at Carrefour SA. He also spent a number of years at Nestlé, leading supply chain and procurement operations for Nestlé Water.

Originally from Italy, Roberto holds a degree in Industrial Engineering from the Politecnico of Milan. He is currently a member of the Executive Advisory Board of Gartner Supply Chain, a leading organization in supply chain research and development. He has also held leadership roles at SOS-Logistica, an association working to promote sustainability and safety initiatives across logistics and supply chain processes.

“I am thrilled to be joining The Estée Lauder Companies,” said Roberto Canevari. “Greg has done a truly incredible job developing and leading a uniquely talented and dynamic global Supply Chain organization. It is an honor to step into this role, and I am eager to continue to build on the success of this critical function. I look forward to partnering with Fabrizio and the entire Executive Leadership Team to contribute to the overall success and continued growth of ELC.”

Forward-Looking Statements

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may address our expectations regarding supply chain matters, sales, earnings or other future financial performance and liquidity, other performance measures, product introductions, entry into new geographic regions, information technology initiatives, new methods of sale, our long-term strategy, restructuring and other charges and resulting cost savings, and future operations or operating results. Although we believe that our expectations are based on reasonable assumptions within the bounds of our knowledge of our business and operations, we cannot assure that actual results will not differ materially from our expectations. Factors that could cause actual results to differ from expectations are described in our Form 10-K for fiscal 2020. We assume no responsibility to update forward-looking statements made herein or otherwise.

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 approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, Tommy Hilfiger, M·A·C, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, TOM FORD BEAUTY, Smashbox, Ermenegildo Zegna, AERIN, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, BECCA, Too Faced and Dr. Jart+.

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