The Estée Lauder Cos.’ latest executive shuffle spans two key markets.
Mark Loomis, the company’s president of Asia-Pacific, has been appointed president of North America. Loomis succeeds Chris Good, who announced his retirement earlier this week and will report to chief executive officer Fabrizio Freda.
Joy Fan is being promoted to the role of president and CEO, China. She will report to Peter Jueptner, the conglomerate’s new president of international. The market is now the direct responsibility of the international business, as opposed to that of the Asia-Pacific region. Working with Fan will be Matthew Growdon, who has been named senior vice president and general manager, Asia-Pacific.
“Mark [Loomis] has successfully built and led high-performance organizations throughout his 25 years at the Estée Lauder Cos., delivering incredible results through his visionary strategic leadership and collaborative style,” said Lauder CEO Fabrizio Freda in a statement. “I look forward to our continued close partnership as Mark leads our talented North America team to build on their successes as the region continues to gain momentum.”
William P. Lauder, the company’s executive chairman, added that “throughout his tenure, Mark [Loomis] has demonstrated an unwavering commitment to business success, while also commanding the deep respect of everyone with whom he engages and cultivating a strong sense of ambition, belonging and pride across the company,” in a statement.
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