Estee Lauder 2012 Annual Report Download - page 7
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As I reflect on our excellent performance in fiscal
2012, I would like to express my deep appreciation
for all of the people who have contributed to our
success. Despite the global economic and political
uncertainties that marked fiscal 2012, we enter the
fourth year of our strategic journey having achieved
a number of record highs. This is a testament to the
strength of our business model and the outstanding
leadership of Fabrizio Freda. His vision, thoughtful
management and disciplined focus have positioned
The Estée Lauder Companies for what I believe will
be a bright future. I am also grateful to my father,
Leonard Lauder, whose strength and devotion to
our Company continues to inspire us all. I extend
my deepest thanks to our Board of Directors and
our Executive Leadership Team — we are fortunate
to have some of the world’s best talent helping to
guide our organization. To our consumers, our
suppliers, our retailers and our stockholders, thank
you for your ongoing loyalty and support. And most
importantly, I would like to thank our employees
around the world for their extraordinary efforts
and contributions.
I look toward the next phase in our evolution with
confidence and optimism. The Estée Lauder
Companies has always been a unique organization
with a rich heritage, and the steps we have taken
over the past three years have made us stronger
than ever. We finished fiscal 2012 in an enviable
position, bolstered by exceptional talent and
leadership, unsurpassed creativity, a strong balance
sheet, and a winning strategy that enables us to take
advantage of our biggest global opportunities and
to ensure the sustainable, profitable growth of our
business for the foreseeable future.
Sincerely,
William P. Lauder
Executive Chairman
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