THE WHAT? The Estée Lauder Companies has appointed Dave Smith as Senior Vice President of New Business Development, succeeding Shana Randhava, according to a report by WWD.com.

THE DETAILS An experienced M&A expert, Smith will report to Andrew Smith, Executive Vice President of strategy, new business development and integration. 

Randhava will take on a larger role heading up ELC’s Incubation Ventures. 

Smith previously held the role of Head of corporate venture capital and director of M&A at applied science business Corning, before which he worked as Senior Director of M&A for eBay. 

THE WHY? ELC lauded Smith for his vast experience in M&A, stating that he would help further develop the company’s end-to-end strategy. 

Taking to a statement, Ross said, “Dave’s deep experience, global perspective and creative vision for New Business Development make him the ideal leader to help us further develop our progressive end-to-end M&A strategy.
“He brings to ELC a blend of analytics and creativity, as well as an outstanding skillset in building and managing complex relationships with key stakeholders throughout the M&A ecosystem.”