NEW YORK — The top executives of The Estée Lauder Cos. Inc. enjoyed increases in salary and bonus for fiscal year 2004, according to Securities and Exchange Commission documents filed this week.
William P. Lauder, who was chief operating officer of the company in 2004, received a 15.6 percent increase in salary to $1.3 million, up from $1.1 million in 2003, according to a proxy statement filed with the SEC on Wednesday. His 2004 bonus rose by 14.6 percent to $1.8 million from $1.5 million in 2003.
Lauder was promoted to president and chief executive officer of New York-based Estée Lauder, effective July 1, the date the company began its current fiscal year. He will receive a base salary of $1.5 million annually until June 30, 2007, according to a Form 8-K filed Tuesday. That’s an increase of 15.4 percent from his salary as chief operating officer. Lauder’s planned bonus payout will be $2 million each year.
Fred H. Langhammer, president and chief executive officer of the company in the last fiscal year, brought in a salary of $2 million, up 5.3 percent from 2003. He had a bonus of $3 million, an increase of 3.4 percent from the prior year.
Leonard A. Lauder, chairman of the board, had a salary of $1.8 million, also up 5.3 percent from 2003. Lauder’s annual bonus increased 3.4 percent to $1.8 million.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion