The Estée Lauder Companies Inc. (NYSE: EL) (“ELC” or “the
Company”) today announced that Akhil Shrivastava has been appointed
Executive Vice President and Chief Financial Officer, succeeding
Tracey T. Travis, whose intention to retire was announced on July
11, 2024. Akhil will report to William P. Lauder, Executive
Chairman, and Fabrizio Freda, President and Chief Executive
Officer, consistent with the reporting structure for Tracey.
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The Estée Lauder Companies Names Akhil
Shrivastava as Executive Vice President and Chief Financial
Officer, Effective November 1, 2024 (Photo: Business Wire)
Akhil will assume his new role effective November 1, 2024.
Tracey will remain at the Company until her retirement on June 30,
2025 to support a seamless transition.
“With over 25 years of extensive financial and leadership
experience, Akhil is an exceptional and capable leader whose
financial and strategic expertise and insights have been important
in supporting the Company over the past several years, and he will
be instrumental in driving forward our strategic direction and
decisions,” said Fabrizio Freda. “I look forward to partnering with
Akhil as we continue to rebuild stronger, more sustainable
profitability and sales growth acceleration across the
business.”
In his new role as Chief Financial Officer, Akhil will be
responsible for the Company’s Global Finance, Accounting, Tax,
Treasury, Investor Relations and New Business Development
organizations. He will lead ELC’s Global Finance & Strategy
(F&S) organization and will continue to cultivate and
strengthen the tremendously talented Finance & Strategy Team,
continuing to imbue agility and consumer-focus across the
organization to drive sustainable value creation, governance, and
strategic business objectives and priorities for the long-term.
Since joining ELC in 2015, Akhil has held several senior finance
roles within the Company. He was recently named ELC’s Senior Vice
President, Corporate Controller, a role that oversees Corporate
Accounting and Financial Planning & Analysis, the International
and Online Finance organizations, Pricing and Value Chain Finance,
serving on both the Finance & Strategy Leadership Team and
Executive Leadership Team. He also oversees the Operational
Excellence pillar as part of the Profit Recovery and Growth Plan
focused on driving strong inventory, cash, and cost improvements
for the Company. Prior to his current role, he was Senior Vice
President, Treasurer, where he was responsible for core Treasury
functions, the Enterprise Risk Program, Real Estate, and oversight
of the Company’s retirement funds.
Akhil will serve as a member of several of ELC’s senior
management leadership groups including the Executive Leadership
Team, Investment Development Committee, Fiduciary Investment
Committee, and Corporate Risk Management Committee. In some cases,
his membership will continue, and, in others, he will be a new
member.
“Akhil has demonstrated his capabilities as a transformational,
visionary, and collaborative leader who combines finance and
strategy with an appreciation for the creativity within our
business and our brands with consumers at the heart,” said William
P. Lauder. “He also has a keen ability to cultivate high-performing
teams and organizations and will continue to strengthen the
tremendously talented Finance & Strategy organization, which
will be instrumental in continuing to drive our strategic business
objectives and priorities for the long-term.”
Akhil first joined ELC in 2015 as Vice President, Global Finance
& Strategy for the Estée Lauder brand and was then appointed to
the role of Senior Vice President, Global Finance & Strategy
for Jane Hertzmark Hudis’ Brand Cluster in January 2019, where he
provided strategic leadership and financial guidance while
maximizing business and transformational opportunities across the
brand cluster. Specifically, he helped allocate resources to
support and promote the best growth opportunities from a consumer,
sub-category, geography, and channel perspective.
He has also served as a valued member of many key enterprise
initiatives at the Company, providing strategic financial direction
for projects which include transforming ELC’s planning processes
and capabilities to support the end-to-end business from consumer
demand to delivery.
“With its leading portfolio of iconic brands, extensive global
reach, and impressively talented people, I am honored to lead the
Global Finance team,” said Akhil Shrivastava. “I look forward to
helping to advance the Company’s multiple engines of growth to
rebuild stronger, more sustainable profitability and support sales
growth acceleration across brands, product categories, and regions
while evolving the business for the future.”
Before joining The Estée Lauder Companies, Akhil spent eighteen
years at Procter & Gamble, where he served in several finance
and leadership roles across Asia, North America, and the global
businesses, including Finance Director for Gillette, North
America.
Akhil is a graduate of Engineering College in Rewa, India and
has a Master’s Degree in Finance and Control from Delhi
University.
Cautionary Note Regarding
Forward-Looking Statements
Statements in this press release may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements include the various quotations
related to rebuilding profitability and sales growth and the future
of the finance and strategy function. Although the Company believes
that its expectations are based on reasonable assumptions within
the bounds of its knowledge of its business and operations, actual
results may differ materially from the Company’s expectations.
Factors that could cause actual results to differ from expectations
include the ability to successfully implement the Company’s profit
recovery and growth plan and those described in the Company’s
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the fiscal year ended June 30, 2023.
The Company assumes no responsibility to update forward-looking
statements made herein or otherwise.
About The Estée Lauder Companies
The Estée Lauder Companies Inc. is one of the world’s leading
manufacturers, marketers, and sellers of quality skin care, makeup,
fragrance, and hair care products, and is a steward of luxury and
prestige brands globally. The company’s products are sold in
approximately 150 countries and territories under brand names
including: Estée Lauder, Aramis, Clinique, Lab Series, Origins,
M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London,
Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty,
Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN
PARIS, Too Faced, Dr.Jart+, and the DECIEM family of brands,
including The Ordinary and NIOD.
ELC-C ELC-L
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version on businesswire.com: https://www.businesswire.com/news/home/20240723453390/en/
Media Relations: Jill Marvin
jimarvin@estee.com
Investor Relations: Rainey Mancini
rmancini@estee.com
Grafico Azioni Estee Lauder Companies (NYSE:EL)
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Da Ott 2024 a Nov 2024
Grafico Azioni Estee Lauder Companies (NYSE:EL)
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Da Nov 2023 a Nov 2024
