Estee Lauder 2009 Annual Report Download - page 6

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As we welcome Fabrizio Freda as our new Chief Executive Offi cer, I want to thank William Lauder for the
out standing accomplishments our Company achieved while he was Chief Executive Offi cer. Thanks to his
knowledge and keen insights, we expanded our international reach, increased our presence in new
channels of distribution — particularly the fast-growing Internet and direct response television —and greatly
strengthened our brand portfolio, all of which contributed to our Company’s growth.
At the start of fi scal 2010, I transitioned into a new role as Chairman Emeritus. As a continuing member of
the Board and a long-time stockholder, I have full confi dence that under William and Fabrizio’s leadership,
our Company will continue to achieve even greater pinnacles of success. William’s profound understanding
of The Estée Lauder Companies and its rich heritage, combined with Fabrizio’s deep business acumen and
strategic vision, will continue a long tradition of strong partnership at the Company’s helm.
This leadership team marks the start of a new era at The Estée Lauder Companies. As I assume my new
position, I will continue to provide advice and guidance to the leaders of the Company so we can continue
the incredible journey that started more than half a century ago when I came to work at a small cosmetics
company started by my mother.
I want to thank, with deep appreciation and gratitude, all our employees, retail partners and consumers
who have helped build The Estée Lauder Companies into what it is today— a worldwide leader in
prestige beauty.
Sincerely,
Leonard A. Lauder
Chairman Emeritus
5
DIFFICULT TIMES REWARD COMPANIES THAT
ARE VERSATILE, ADAPTIVE AND DIVERSIFIED.
ALL ARE TRUE OF THE EST{E LAUDER COMPANIES.