Fabrizio Freda
{{short description|Italian business executive (born 1957)}}
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| name = Fabrizio Freda
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| birth_date = {{Birth date and age|1957|08|31}}
| birth_place = Naples, Italy
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| occupation = Chief executive officer (retired)
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| employer = Estee Lauder
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Fabrizio Freda (born 31 August 1957) is an Italian business executive and the former chief executive officer of the Estée Lauder Companies.
Early life
Freda was born on 31 August 1957 in Naples and graduated from the University of Naples Federico II in March 1981.{{Cite magazine |url=https://wwd.com/business-news/human-resources/fabrizio-fredas-steady-ascent-2124574/ |title=Fabrizio Freda's Steady Ascent |date=8 May 2009 |magazine=Women's Wear Daily}}{{cite web |last=Parker |first=Garrett |date=8 April 2020 |title=10 Things You Didn't Know about Fabrizio Freda |url=https://moneyinc.com/10-things-you-didnt-know-about-fabrezio-freda/ |website=Money INC}}
Career
Freda was appointed president and chief executive officer of The Estée Lauder Companies Inc. on July 1, 2009,{{cite web|title=Estee Lauder to promote COO to CEO as planned|url=https://us.fashionnetwork.com/news/estee-lauder-to-promote-coo-to-ceo-as-planned,497729.html|date=26 March 2008|website=Fashion Network}}{{cite web|title=Fabrizio Freda|url=https://www.elcompanies.com/en/who-we-are/leadership/executive-leadership/fabrizio-freda|website=Estee Lauder}} succeeding William P. Lauder. He had joined the company in March 2008, when he was appointed president and chief operating officer.{{cite web |last=Platero |first=Mario |date=22 February 2021 |title=Fabrizio Freda: the "mister 100 billion" who revolutionized Estee Lauder Companies is Italian |url=https://www.repubblica.it/economia/affari-e-finanza/2021/02/22/news/e_italiano_il_mister_100_miliardi_che_ha_rivoluzionato_este_e_lauder-300851697/ |website=la Republica |language=Italian}} He retired from Estee Lauder in 2024 and assumed the position of special advisor.{{cite news|last=Scott|first=Nateisha|title=Stéphane de la Faverie named president and CEO of Estée Lauder Companies|url=https://www.voguebusiness.com/story/beauty/stephane-de-la-faverie-named-ceo-of-estee-lauder-companies|date=30 October 2024|website=Vogue Business}}
Freda was previously president of Procter & Gamble's Global Snacks division. Freda joined P&G in 1982 and spent 10 years in the health and beauty division.{{cite web|last=Salas|first=Abigail|title=Estee Lauder CEO Fabrizio Freda on Inspiring the New Generation of Beauty|url=https://msb.georgetown.edu/gbi-news/estee-lauder-freda/|date=8 April 2019}}{{cite web|last=Echenique|first=Sandra|title=His name is Fabrizio Freda|url= https://www.genteditalia.org/2022/06/22/si-chiama-fabrizio-freda-ed-e-napoletano-il-secondo-ceo-piu-pagato-di-tutti-gli-stati-uniti/|language=Italian|date=22 June 2022}}
He had a two-year stint at Gucci as international director of marketing and strategy until its sale to an investor group in 1988, before rejoining P&G.{{Cite magazine |last=Tully |first=Shawn |date=31 October 2013 |title=An outsider in the family castle |url=https://fortune.com/2013/10/31/an-outsider-in-the-family-castle/ |magazine=Fortune}}
In 2021, Freda's total compensation from Estée Lauder was $66 million, representing a CEO-to-median worker pay ratio of 1,965-to-1.{{Cite web |last=Jackson |first=Sarah |date=2022-07-22 |title=Here are the 20 companies with the biggest pay gap between CEOs and workers in 2021, including Amazon, Apple, Starbucks, and McDonald's |url=https://www.businessinsider.com/these-20-companies-have-biggest-ceo-to-worker-pay-ratios-2022-7 |url-status=live |archive-url=https://web.archive.org/web/20240214091537/https://www.businessinsider.com/these-20-companies-have-biggest-ceo-to-worker-pay-ratios-2022-7?op=1#3-mcdonalds-2251-to-1-3 |archive-date=2024-02-14 |access-date=2024-08-31 |website=Business Insider |language=en-US}} In 2022, Freda's total calculated compensation as chief executive officer, president, and director at Estée Lauder was $25.5 million.{{Cite web |last=Hopkins |first=Kathryn |date=7 December 2022 |title=Fabrizio Freda Talks Succession Planning at The Estee Lauder Cos. |url=https://wwd.com/beauty-industry-news/beauty-features/fabrizio-freda-talks-succession-planning-estee-lauder-ceo-1235442012/|access-date=2023-06-01 |website=Women's Wear Daily}} In 2023, Freda's total compensation from Estée Lauder was $21.8 million, or 645 times the median employee pay at the Estée Lauder Companies for that year.{{Cite web |last=Anderson |first=Sarah |date=2024-08-29 |title=Executive Excess 2024: The “Low Wage 100” corporations are enriching CEOs at the expense of workers and long-term investment |url=https://ips-dc.org/wp-content/uploads/2024/08/executive_excess_2024_ips_report.pdf |url-status=live |archive-url=https://web.archive.org/web/20240829154904/https://ips-dc.org/wp-content/uploads/2024/08/executive_excess_2024_ips_report.pdf |archive-date=2024-08-29 |access-date=2024-08-31 |website=Institute for Policy Studies}}
Freda is on the board of BlackRock.{{Cite web |date=2022-06-13 |title=Freda, il secondo Ceo più pagato negli Usa è italiano: maxistipendio da 66 mln |url=https://www.affaritaliani.it/economia/freda-il-secondo-ceo-piu-pagato-e-italiano-stipendio-monstre-da-66-mln-800820.html |access-date=2023-06-01 |website=Affaritaliani.it |language=it}}
Awards and honors
In 2015, Freda received the Order of Merit for Labour from Italian President Sergio Mattarella.{{cite web |last=Janik |first=Lucie |date=24 October 2015 |title=Fabrizio Freda Honored With 'Cavalieri del Lavoro' Award in Italy |url=https://wwd.com/business-news/human-resources/estee-lauder-fabrizio-freda-honored-10268459/ |website=Women's Wear Daily}}
Personal life
References
{{reflist}}
{{Estée Lauder Companies}}
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Category:Italian businesspeople
Category:Businesspeople from Naples
Category:Estée Lauder Companies people
Category:Procter & Gamble people