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The Estée Lauder Companies Elects a New Member to Its Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
The Estée Lauder Companies Inc. (NYSE:EL) announced the election of Arturo Nuñez to its Board of Directors, effective April 25, 2022. Mr. Nuñez, currently the Chief Marketing Officer of Nubank, brings significant consumer marketing experience from roles at Apple, NIKE, and the NBA. His expertise is expected to enhance the board’s strategic direction, particularly in areas of innovative technology and consumer branding. The board now comprises 16 members, with Mr. Nuñez serving a term that will expire in November 2024.
Positive
Arturo Nuñez's extensive marketing experience is expected to bring valuable insights to the board.
His background at major brands such as Apple and NIKE may strengthen Estée Lauder's marketing strategies.
Negative
Potential concerns about continuity and experience gaps in the board as it undergoes changes.
NEW YORK--(BUSINESS WIRE)--
The Estée Lauder Companies Inc. (NYSE:EL) announced today that Arturo Nuñez has been elected to its Board of Directors and that he has also joined the company’s Audit Committee, in each case effective as of April 25, 2022. Mr. Nuñez is Chief Marketing Officer of Nu Holdings Ltd. (“Nubank”), which is a digital banking platform headquartered in Brazil that serves customers across Brazil, Mexico, and Colombia.
“We welcome Arturo Nuñez and are excited that he is joining our Board of Directors,” said William P. Lauder, Executive Chairman. “Arturo has an impressive global business background that includes consumer-oriented experience from his current role at Nubank and his previous positions at Apple, Nike, and the NBA. We expect that our Board will benefit from Arturo’s valuable perspectives on creative marketing, modern retail, innovative technology, and consumer branding, including connecting with diverse consumers.”
Mr. Nuñez, 55, has been the Chief Marketing Officer of Nubank since June 2021. Prior to joining Nubank, he founded AIE Creative, a branding and marketing firm, and from 2014 to 2018, he was the Head of Marketing, Latin America, for Apple Inc. From 2007 to 2014, Mr. Nunez held various marketing positions at NIKE, Inc., including Global Vice President, Basketball Marketing, and from 1999 to 2007, he held various positions at the National Basketball Association (“NBA”) including Vice President, Managing Director, NBA Latin America and U.S. Hispanic. Mr. Nuñez graduated from Florida A&M University.
Mr. Nuñez is a Class I director (term expiring November 2024). The Board of Directors of The Estée Lauder Companies Inc. now has 16 directors including Mr. Nuñez.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers and sellers 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, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.
Who is Arturo Nuñez and what is his role at Estée Lauder?
Arturo Nuñez is the newly elected member of the Board of Directors at Estée Lauder, effective April 25, 2022, and he is also part of the Audit Committee.
What experience does Arturo Nuñez bring to Estée Lauder?
Arturo Nuñez has previously worked as Chief Marketing Officer at Nubank, and held notable positions at Apple, NIKE, and the NBA, providing him with extensive experience in consumer marketing.
When will Arturo Nuñez's term on the board expire?
Arturo Nuñez's term as a Class I director will expire in November 2024.
How many members are currently on the Board of Directors of Estée Lauder?
The Board of Directors of Estée Lauder now has 16 members.
