379: Estee Lauder CIO Michael Smith stresses the importance of talent and culture. On the talent side, Michael has brought in business leadership from several Fortune 500 companies, and he has helped open a new technology hub in Long Island City, New York, which is part of a two-campus model in New York that has formed after consolidating down from nine location. Michael notes that culture is Estee Lauder’s number one asset. We discuss how consumer expectations will change as technology evolves, the benefits Michael gets from being a consumer of his own products, among other topics.
"We have transitioned from being focused on technology to being focused on the business units, consumers, and the markets that we serve so that we are more responsive. Because this has allowed us to be closer to our business, and it has been one of the most significant strategic decisions that we have made."