Arturo Nuñez
ESTEE LAUDER COMPANIESAbout Arturo Nuñez
Arturo Nuñez, age 58, has served on The Estée Lauder Companies’ Board since 2022. He is an independent director with deep global marketing and consumer brand experience, currently Founder and CEO of AIE Creative; prior roles include CMO of Nu Holdings (Nubank), Head of Marketing for Apple Latin America, senior marketing leadership at NIKE, and VP/MD roles at the NBA focused on Latin America and U.S. Hispanic markets. He serves on EL’s Audit Committee and the Compensation Committee (including the Stock Plan Subcommittee), and is also a director at Abercrombie & Fitch Co.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AIE Creative | Founder & CEO | Founded 2018; active | Branding and marketing leadership |
| Nu Holdings Ltd. (Nubank) | Chief Marketing Officer | Jun 2021 – Oct 2022 | Led marketing across Brazil, Mexico, Colombia |
| Apple Inc. | Head of Marketing, Latin America | 2014 – 2018 | Regional marketing leadership |
| NIKE, Inc. | Various marketing roles incl. Global VP, Basketball Marketing | 2007 – 2014 | Global category marketing |
| National Basketball Association (NBA) | Various roles incl. VP & Managing Director, NBA Latin America and U.S. Hispanic | 1999 – 2007 | Market expansion, consumer engagement |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Abercrombie & Fitch Co. | Director | Current | Not disclosed |
Board Governance
- Committee assignments: Audit Committee; Compensation Committee; Stock Plan Subcommittee. Not a committee chair.
- Independence: Board determined Nuñez is independent under EL standards and NYSE rules.
- Attendance & engagement: In FY2025, Board, Audit, Compensation (and Stock Plan Subcommittee) each met 7 times; Nominating & ESG met 5 times; combined attendance >97%; no director <75%. Six executive sessions of non‑employee directors and one of independent directors; all directors attended the 2024 Annual Meeting.
- Board leadership context: Lead Independent Director role in place (Richard F. Zannino); EL is a “controlled company” with dual‑class stock and family voting agreement.
Governance Metrics
| Metric | Value |
|---|---|
| Independence status | Independent |
| Committees | Audit; Compensation; Stock Plan Subcommittee |
| FY2025 attendance context | >97% combined attendance; no director <75% |
| Executive sessions (FY2025) | 6 (non‑employee) + 1 (independent) |
| Lead Independent Director | Richard F. Zannino |
| Controlled company features | Dual-class; family control; committee exceptions |
Fixed Compensation
| Component (FY2025) | Amount (USD) | Notes |
|---|---|---|
| Annual Board cash retainer | $100,000 | Standard non‑employee director retainer |
| Audit Committee member retainer | $12,000 | Standard rate |
| Compensation Committee member retainer | $8,000 | Includes Stock Plan Subcommittee |
| Total cash paid to Nuñez | $120,000 | FY2025 actual cash |
| Annual stock units grant | $75,000 | Granted at annual meeting; units with dividend equivalents |
| Annual stock options grant | $99,992 | Options, 10‑year term; exercisable starting 1 year post‑grant |
| Total FY2025 compensation | $294,992 | Sum of cash, stock units, options |
Performance Compensation
Directors do not have performance‑based cash bonuses or PSU metrics tied to director service; compensation is a mix of fixed cash retainers and equity (stock units and options) per the Director Share Plan.
| Performance Metric | Applies to Director Pay? | Details |
|---|---|---|
| Revenue/EBITDA/TSR goals | No | Director compensation structure lacks performance metrics |
| PSUs tied to multi‑year targets | No | Annual PSUs apply to executives, not directors |
Other Directorships & Interlocks
| Company | Relationship to EL (supplier/customer/competitor) | Interlock/Conflict Note |
|---|---|---|
| Abercrombie & Fitch Co. | Not disclosed as supplier/customer of EL | No compensation committee interlocks; EL discloses none in FY2025 |
Expertise & Qualifications
- Global marketing, management, retail, and consumer brand experience across Apple, NIKE, NBA, and Nubank; innovative technology and digital expertise; board experience at Abercrombie & Fitch.
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Beneficial ownership (Class A) | 6,999 shares | <0.1% of Class A outstanding |
| Stock units outstanding (as of 6/30/2025) | 3,435 units | Director stock units with dividend equivalents |
| Stock options outstanding (as of 6/30/2025) | 7,658 options | Director options outstanding |
| Pledged or hedged shares | None disclosed | Pledged shares disclosed for certain Lauder family members; no pledge disclosure for Nuñez |
| Director ownership guideline | 5× annual cash retainer ($500,000) within 5 years of initial election | Applies to all directors; stock units count; hedged/pledged shares do not count |
Governance Assessment
- Strengths: Independent status; active service on Audit and Compensation committees including Stock Plan Subcommittee (enhanced oversight of financial reporting, executive equity plans); strong attendance culture and executive sessions; relevant consumer/digital marketing expertise; additional board perspective from Abercrombie & Fitch.
- Alignment: Director pay includes equity via stock units and options; ownership guidelines require 5× retainer within 5 years, with stock units counting toward compliance; Nuñez shows disclosed beneficial ownership and outstanding units/options.
- Risk factors (structural): EL’s controlled‑company status with dual‑class voting and family Stockholders’ Agreement; non‑independent members permitted on Nominating & ESG and Compensation Committees (though Audit Committee is fully independent and committee chairs are independent). These features can temper minority shareholder influence and committee autonomy.
- Conflicts/Related‑party exposure: No related‑party transactions disclosed for Nuñez; Compensation Committee interlocks report indicates no interlocking relationships requiring disclosure.