NY-ESTÉE-LAUDER

Today, The Estée Lauder Companies Inc. (NYSE:EL)("ELC") announced key leadership appointments for its Travel Retail business, which follow the announcement that Olivier Bottrie, currently Global President, Travel Retail and Retail Development , will retire in June 2022 after an exceptional career.

The following appointments will be effective May 1, 2022:

• Israel Assa , currently President, Commercial, Travel Retail Worldwide , will succeed Olivier and will be named Global President, Travel Retail Worldwide . He will be based in New York and will report directly to Peter Jueptner, President, International. He will join the company’s Executive Leadership Team (ELT).
• Javier Simon , currently President, Travel Retail Asia Pacific , will succeed Israel, and will be named President, Commercial, Travel Retail Worldwide . He will report directly to Israel and will be based in Switzerland. He will join the company’s Executive Leadership Team (ELT).
• Andrea Dorigo, Senior Vice President, General Manager, Global Retail and Head of Commercial, North America, will continue to report directly to Mark Loomis, President, North America, for his Commercial, North America responsibilities, and will report directly to Peter for his Global Retail responsibilities.

“We are proud of the exceptional depth and quality of talent across the organization, and as Olivier steps into his well-deserved retirement, we are pleased to elevate Israel and Javier, two dynamic, internally-trained and highly experienced leaders into these roles of greater responsibility,” said Peter Jueptner. “ELC remains committed to investing in and growing our local and international talent around the world, particularly leaders like Israel and Javier, who have extensive first-hand experience in Travel Retail and deep global expertise across all aspects of prestige beauty.”

Please find further information about Israel’s and Javier’s respective appointments and Andrea’s updated matrix reporting line below.

Israel Assa Appointed Global President, Travel Retail Worldwide

With over 21 years of experience within The Estée Lauder Companies and Travel Retail, Israel Assa is renowned industry-wide as a passionate brand steward and brand builder who has continually championed innovation within the Travel Retail channel, making him uniquely qualified to lead ELC’s winning Travel Retail business.

In this role, Israel will lead The Estée Lauder Companies’ global Travel Retail business, which has grown from approximately 6% of ELC’s net sales in fiscal year 2004 to approximately 28% in fiscal year 2021.

Over the course of his career, Israel has held diverse roles across ELC’s Travel Retail business, touching all aspects of the channel as a Regional lead, a Brand lead and a Commercial lead. He has an intimate knowledge of how to bring together brands and retailers to develop locally-relevant consumer experiences, as well as scaling distribution to meet consumer demand.

In his most recent role as President, Commercial, Travel Retail Worldwide, Israel oversaw Travel Retail’s Regional businesses in APAC, EMEA, and Americas as well as created a centralized Center of Excellence in Switzerland to enhance the organization’s service to global and regional retailers. Since taking on this position in 2019, Israel has overseen tremendous growth within The Estée Lauder Companies’ Travel Retail business and has acted as a steadying force throughout the volatility of the global pandemic.

A change champion, under Israel’s leadership Travel Retail’s Regional organizations have focused on building new capabilities, simplifying processes, and investing in learning and technology to set up Travel Retail for sustainable, long-term success. This approach has paid off with ELC not only maintaining the top market share position during the pandemic¹ , but the company is also well positioned to capture consumer spend when global international travel returns.

Israel joined The Estée Lauder Companies in New York in 2001 as Executive Director, Travel Retail Marketing, and moved to Miami as Vice President and General Manager, Travel Retail Americas, in July 2006. In 2014 Israel was appointed Senior Vice President and General Manager, Estée Lauder, Travel Retail Worldwide until taking on the role of Senior Vice President, Business Operations, Travel Retail Worldwide, in 2016.

A champion of the company’s values of Inclusion, Diversity, and Equity, Israel has played an active role in the creation of Travel Retail’s learning and development program with Florida A&M University, a top public Historically Black College/University (HBCU) in the United States,² to build the next generation of Black beauty talent in Travel Retail. He is also a member of the advisory board for The Estée Lauder Companies’ Hispanic Connections employee resource group, that aims to strengthen the company's position within the Hispanic and Latino marketplace and community as well as focus on the professional growth of group members.

A Cuban American and a native New Yorker, Israel holds his Master of Business Administration from NYU and a Bachelor of Arts in International Studies from The University of Michigan, Ann Arbor. He also is a graduate of the Advanced Management Program of the Wharton School, University of Pennsylvania.

“Israel’s deep understanding of our Travel Retail business, his longstanding relationships with retailers and airport landlords, and his passion for our consumer make him perfectly positioned to take ELC’s Travel Retail business into its next generation of growth,” said Peter Jueptner. “I look forward to working closely with Israel to drive this business forward in his new position as Global President, Travel Retail Worldwide.”

Javier Simon Appointed President, Commercial, Travel Retail Worldwide

A well-respected, driven, and innovative leader with a track record of building high-performing teams, Javier’s deep understanding of the Travel Retail channel, strong retailer relationships and global experience make him extremely well-suited to step into the role of President, Commercial, Travel Retail Worldwide.

In this role, Javier will oversee Travel Retail’s Regional businesses in APAC, EMEA, and Americas as well as the global retailer Center of Excellence in Switzerland focused on commercial and channel partnerships.

Most recently appointed President, Travel Retail Asia Pacific, in 2019, Javier has been a transformational leader, overseeing a period of tremendous growth. Under his stewardship, powered by the traveling Chinese consumer, the rise in online pre-order and a commitment to delivering the highest quality brand-building experiences, Travel Retail Asia Pacific has continued to excel, even in the face of the global pandemic. Javier’s ability to steer his team through the uncertainties of the global pandemic, pivoting their focus to Hainan and Chinese domestic travel have been critical to maintaining success for the channel and the company.

Javier’s passion for innovating the retail experience and meeting the consumer wherever they are in the journey, has enabled The Estée Lauder Companies to lead the way in transforming the Travel Retail channel. In taking key strategic bets such as embracing the potential of online pre-order and diversifying the company’s consumer messaging to highlight experience as well as value, Javier and his team have proven Travel Retail’s ability to deliver an omnichannel, brand equity-building experience.

Javier has continually pushed the boundaries to grow ELC’s business and win within Travel Retail. His cultivation of the company’s brand portfolio, from launching new brands in the channel to scaling and developing brands to new heights, has been critical in sustaining Travel Retail’s top market share position. Taking his experience in Asia Pacific, his strong retailer relationships, and ability to build diverse teams of change agents, Javier is well positioned to scale the growth created in APAC across all three Travel Retail regions to capture the traveling consumer as international travel returns.

A native of Venezuela, Javier joined The Estée Lauder Companies in 2000 as Regional Director for the Estée Lauder brand in Travel Retail Americas, and then went on to become Vice President and General Manager for Travel Retail Americas in 2001. In 2006, Javier was appointed General Manager for the Swiss Affiliate before returning to Travel Retail as Vice President and General Manager, Travel Retail APAC, in 2009.

Javier holds his Bachelor of Science in International Studies from the Universidad Central de Venezuela and an MBA from the Ecole Supérieure de Commerce de Paris. He also is a graduate of the Advanced Management Program of the Wharton School, University of Pennsylvania.

“Javier is highly respected by his teams and peers within the industry as an innovative leader who creates a culture of excellence,” said Peter Jueptner. “His track record of growth, deep Travel Retail knowledge, and respect for the global consumer will be critical to continually capture and scale the future potential of Travel Retail. I look forward to his success in this role.”

Andrea Dorigo to Continue to Report Directly to Mark Loomis for Commercial, North America Responsibilities, and Directly to Peter Jueptner for Global Retail Responsibilities

Andrea’s new reporting line to directly to Peter for his Global Retail responsibilities reflects the elevation of the company’s Global Retail business to International to support its continued actions to lead retail transformation at the global level.

“I look forward to partnering closely with Andrea to drive retail growth in the brands and across the enterprise through innovative thinking and disruptive growth models,” said Peter Jueptner. “Together, we will further strengthen the vision and strategy for the future of retail at our company.”

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 Paris, TOM FORD BEAUTY, Smashbox, Ermenegildo Zegna, AERIN, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced and Dr. Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.

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¹ Generation Research 2019; Generation Research 2020
² US News and World Report 2022 Best Colleges

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