Estee Lauder CFO Richard Kunes to Retire
The Estee Lauder Companies (Estee Lauder) has announced that Richard Kunes, executive vice president (EVP) and chief financial officer (CFO), plans to retire from 30 June 2013. Kunes will continue to serve the company as CFO until 30 June 2012, or until a successor begins to serve as CFO. From this point he will continue his relationship with the company as EVP and senior advisor to the chief executive officer (CEO), and work on special projects through to the 30 June 2013.
Kunes has had many accomplishments during his 25 years at Estee Lauder, including the last 12 as CFO. He has played a major role in enhancing the growth and profitability of the organisation as well as substantially improving many other financial metrics.
Kunes joined the Estee Lauder in 1986 as international manufacturing controller. Since then, he served in increasingly important roles, including regional finance director for Asia, vice president operations (VPO) finance worldwide and corporate controller (CC) until his appointment to CFO in 2000. As CFO, he is responsible for the finance functions, including internal and external reporting, treasury, taxation, risk management, operations finance and investor relations. In addition, Kunes is responsible for the corporate strategic planning and mergers and acquisitions (M&A) department and the global information systems group, as well as the administrative aspects of the internal control department. He is also chairman of the Fiduciary Investment Committee (FIC).