NEW YORK--(BUSINESS WIRE)--
BlackRock, Inc. (NYSE:BLK) today announced that Fabrizio Freda,
President and Chief Executive Officer of The Estée Lauder Companies, and
Jessica Einhorn, former Dean of the Paul H. Nitze School of Advanced
International Studies (SAIS) at The Johns Hopkins University, have been
elected to the Company’s Board of Directors. Ms. Einhorn will join the
Board immediately and Mr. Freda will join in October.
Laurence D. Fink, BlackRock Chairman and CEO, said, “BlackRock is
expanding our already highly respected Board of Directors to add
capabilities critical to our continued growth and evolution as a global
financial services leader in an extraordinarily challenging and rapidly
changing market environment. Fabrizio Freda will bring valuable insights
on running a large company with diverse worldwide operations and
powerful consumer brands, and Jessica Einhorn will add further breadth
to our Board’s diverse experience with her expertise in international
finance, economic development and public policy.”
Jessica Einhorn served as Dean at the Paul H. Nitze School of
Advanced International Studies (SAIS) at The Johns Hopkins University
from 2002 until June of 2012. She spent nearly twenty years at the World
Bank, concluding as Managing Director in 1998. Between 1998 and 1999,
she was a Visiting Fellow at the International Monetary Fund. Prior to
becoming Dean, she was a consultant at Clark & Weinstock, a strategic
consulting firm. Prior to joining the World Bank in 1978 she held
positions at the U.S. Treasury, the U.S. State Department and the
International Development Cooperation Agency of the United States.
Ms. Einhorn has been a director of Time Warner, Inc. since 2005 and also
serves as a director of the Peterson Institute for International
Economics and the National Bureau of Economic Research. Ms. Einhorn
served as a director of Pitney Bowes, Inc. from 1999 to 2005. As of July
2012, she is resident at The Rock Creek Group in Washington, DC, where
she is a longstanding member of the Rock Creek Group Advisory Board.
Fabrizio Freda has served as President and Chief Executive
Officer of The Estée Lauder Companies Inc. since July 2009, and is also
a member of its Board of Directors. Mr. Freda previously served as Estée
Lauder’s President and Chief Operating Officer from 2008 to July 2009.
The Estée Lauder Companies is a global leader in prestige beauty with
more than 30 brands and 32,000 employees worldwide. Mr. Freda is
credited with creating and driving the strategy that has led the Company
to achieve a number of financial record highs.
Prior to joining The Estée Lauder Companies Inc., Mr. Freda held various
senior positions at Procter & Gamble Company over the span of 20 years.
From 1986 to 1988, Mr. Freda directed marketing and strategic planning
for Gucci SpA.
With today’s announcement and the previously announced addition of Sue
Wagner, who joins the Board in October, BlackRock’s Board of Directors
will have 19 members. Thirteen of these directors will be independent.
About BlackRock
BlackRock is a leader in investment management, risk management and
advisory services for institutional and retail clients worldwide. At
June 30, 2012, BlackRock’s AUM was $3.560 trillion. BlackRock offers
products that span the risk spectrum to meet clients’ needs, including
active, enhanced and index strategies across markets and asset classes.
Products are offered in a variety of structures including separate
accounts, mutual funds, iShares® (exchange
traded funds), and other pooled investment vehicles. BlackRock also
offers risk management, advisory and enterprise investment system
services to a broad base of institutional investors through BlackRock
Solutions®. Headquartered in New York City, as of June
30, 2012, the firm has approximately 9,900 employees in 27 countries and
a major presence in key global markets, including North and South
America, Europe, Asia, Australia and the Middle East and Africa. For
additional information, please visit the Company's website at www.blackrock.com.
BlackRock, Inc.
Media:
Bobbie Collins, 212-810-8155
Bobbie.Collins@blackrock.com
or
Investor
Relations:
Ellen Taylor, 212-810-3815
Ellen.Taylor@blackrock.com
Source: BlackRock, Inc.