By  on August 22, 2011

Richard Kunes, executive vice president and chief financial officer of the Estée Lauder Cos. Inc., plans to leave his post on or about June 30, with plans to retire the following year. Once the cfo post is filled, he intends to remain at the company as executive vice president, senior adviser to the chief executive officer, through June 30, 2013, according to Lauder. The company said it will consider both internal and external candidates for cfo and that Kunes will work with his successor to aid the transition.

Kunes joined the company in 1986 as international manufacturing controller and has spent 25 years at Lauder, with the last 12 as cfo.

William Lauder, executive chairman, stated, “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.”

Fabrizio Freda, president and ceo, said, “Rick has been a valued partner to me in the last three years. Together, we have managed through a very difficult period and one which included some of the best performances in the company’s history.”

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