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Beauty Industry

Will take post on July 1.

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By: Jamie Matusow

Editor-in-Chief

Effective July 1,Fabrizio Freda will take over as chief executive officer of the Estée Lauder Cos. Inc., following a board vote on Wednesday.

Mr. Freda joined the company on March 3, 2008 as president and chief operating officer with the understanding that he would succeed William P. Lauder as CEO within 24 months.

Prior to joining Estée Lauder, Mr. Freda was president, global snacks, at the Procter & Gamble Company. At P&G, he led a global business with employees, factories and research and development centers around the world. In his long career at P&G, Mr. Freda spent a decade in positions of increasing responsibility in the Health and Beauty Care division. He also directed marketing and strategic planning for Gucci SpA from 1986 to 1988.

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