The Estée Lauder Companies has appointed Dave Smith as Senior Vice President, New Business Development (NBD). Dave will report to Andrew Ross, Executive Vice President, Strategy, New Business Development and Integration.

NBD was previously overseen by Shana Randhava, who was recently tapped to take on an expanded role leading New Incubation Ventures, a new capability within Lauder. Shana will continue to report directly to Andrew in her new leadership role.

Most recently, Dave was head of Corporate Venture Capital and Director of M&A at Corning Incorporated, an innovator in applied science, where he drove all phases of the mergers and acquisitions 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.

“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 Andrew Ross, Executive Vice President, Strategy, News Business Development and Integration. “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.”

Dave 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.