Estee Lauder 2003 Annual Report Download - page 10

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09
I know we have hired the best people when I apply my simple elevator test. Whenever I ride in the elevator
at any of our office locations around the world, I pick out those people who will step off the elevator at
our floor. I distinguish them by all of the qualities we’ve mentioned
here — that burning passion, that style, that desire to be the best.
In addition to our people, it is ideas that keep our vision alive.
We exchange new concepts between headquarters and the more
than 130 countries and territories where our products are sold
around the world. Both our packaging concepts and our technology
in makeup and skin care reflect the influence of global teams. In the
last year alone, I have traveled more than 200 days to make the point that we must learn from people
around the world.
Finally, we define leadership in our industry. Leadership doesn’t just mean sales leadership, but
thought leadership.
We have an outstanding Board of Directors to whom we look for unbiased guidance and leadership. We are
particularly delighted that Rose Marie Bravo, Chief Executive of Burberry, joined us this year. Ms. Bravo
herself is a leader, currently in charge of one of the world’s most prestigious brands, and is an expert at
retailing, having led Saks Fifth Avenue and I. Magnin.
As we now face the future of the Company, we are certain to grow and expand globally as the world presents
more opportunity. But one thing is certain — that we will evolve and grow by holding on to the original vision
of Mrs. Estée Lauder to “Keep Your Own Image Straight in Your Mind,” and to “Hire the Best People.”
It is to all of these people that I now extend my than
ks for persisting in their pursuit of excellence. My thanks,
as well, to our stockholders, customers and consumers for continuing to believe in our vision. May our vision
burn as brightly over the next 50 years as it has over the last 57 years.
Sincerely,
Leonard A. Lauder
Chairman of the Board
MRS. EST{E LAUDER’S
ORIGINAL VISION—OF
WHO WE ARE AND
WHAT WE STAND FOR—
HAS PROVEN TO BE
RESILIENT AND TIMELESS.