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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: marquis103 who wrote (77364)	2/2/2000 9:55:00 AM
From: Elwood P. Dowd	Read Replies (2) \| Respond to of 97611

Compaq Exec Bolts for Estee Lauder NEW YORK (Reuters) - Cosmetics giant Estee Lauder Cos Inc. (NYSE:EL - news) said Wednesday it nabbed a key executive at Compaq Computer Corp. (NYSE:CPQ - news), naming Edward Straw to the newly created position of president of operations. Straw is currently senior vice president of supply chain management at Houston-based Compaq, the world's second largest computer company and the world's No. 1 personal computer maker. He will join Estee Lauder on March 1, helping the New York-based company manage its complex web of distribution outlets. In his new job, Straw will oversee the corporate senior vice presidents heading Estee Lauder's manufacturing, research and development, information systems, packaging and quality assurance areas. At Compaq, Straw was responsible for integrating the company's global supply chain across the entire organization and among suppliers, partners and customers. He supervised factories in the U.S., Europe and Asia, and was responsible for a $30 billion annual raw material and commodity procurement budget. Estee Lauder sells its products in more than 110 countries and territories under brand names that include Estee Lauder, Aramis, Clinique, Prescriptives, and Aveda. Estee Lauder reported net sales of $4 billion and net earnings of $272.9 million in the fiscal year ended June 30, 1999. ''As The Estee Lauder Companies increases its global presence with innovative products, new brands and expanded distribution, the skill and efficiencies of our operating units become increasingly important to our success,'' said president and chief executive Fred Langhammer. Shares of Estee Lauder were at 51-3/4 on the New York Stock Exchange on Wednesday, unchanged from its Tuesday closing price. Printer-friendly format