NEW YORK — Estée Lauder — whose brands include M•A•C, Aveda, Bumble and Bumble, American Beauty, Flirt! and GoodSkin Labs — has announced the retirement of Richard Kunes, EVP and CFO, on or about June 30, 2013.
Kunes intends to continue to serve as CFO until June 30, 2012, or an earlier time as his successor begins to serve as CFO. Thereafter, he will continue his relationship with the company as EVP and senior adviser to the CEO, and work on special projects through June 30, 2013.
The company will begin assessing both internal personnel and external candidates for the CFO role. Kunes will work closely with his successor as needed to ensure a smooth and orderly transition until his retirement.
“I admire Rick’s long-standing commitment to The Estée Lauder Cos., and on behalf of the company, I am thankful for his contributions and efforts,” stated William Lauder, executive chairman. “As CFO, Rick has been an important member of our leadership team and has been instrumental in helping our company reach record financial highs. Through his leadership and expertise, Rick instilled the financial discipline that has helped us achieve our industry leadership position. I am sorry to see Rick leave us, but regrettably I understand his choice to retire and spend more time with his family.”
Kunes joined the company in 1986 as international manufacturing controller. Since then, he served in increasingly important roles at the company, including regional finance director for Asia, VP operations finance worldwide and corporate controller, until his appointment to CFO in 2000.