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.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
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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