The Estée Lauder Companies announced the appointment of Dave Smith as senior vice president, new business development (NBD). Smith will report to Andrew Ross, executive vice president, strategy, NBD and integration.
NBD was previously overseen by Shana Randhava, who was recently tapped to take on an expanded role leading New Incubation Ventures. Randhava will continue to report directly to Ross in her new leadership role.
Smith is a deeply experienced mergers and acquisitions (M&A) and strategic investments professional with a proven record of driving all phases of the M&A process, including identification and evaluation of target companies, relationship building and management, strategic business case development, creative deal structuring, due diligence, negotiations and portfolio management of minority investments. Throughout his career, he has executed sophisticated M&A and strategic investment transactions that have contributed to long-term growth and value creation across a variety of industries.
“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,” said Ross. “He brings to ELC a blend of analytics and creativity, as well as an outstanding skill set in building and managing complex relationships with key stakeholders throughout the M&A ecosystem.”
Dave joins ELC from Corning Incorporated, a leading innovator in applied science, where he was most recently head of corporate venture capital and director of M&A. In this role, he led an interdisciplinary team in the execution of complex M&A transactions and the development of broad, strategic investment themes. He holds an MBA from the Wharton School at the University of Pennsylvania and an undergraduate degree in economics from the University of North Carolina at Chapel Hill. He is a member of the Board of Trustees at the Winston-Salem State University, a Historically Black University targeting under-served minority students from rural areas.