NEW YORK–( BUSINESS WIRE )–The Estée Lauder Companies Inc. (NYSE: EL) today announced the appointment of Akhil Shrivastava as Executive Vice President and Chief Financial Officer, succeeding Tracey T. Travis, who announced her intention to retire on July 11, 2024. Akhil will report to William P. Lauder, Executive Chairman, and Fabrizio Freda, President and CEO, consistent with Tracey’s reporting structure.
Akhil will assume his new role effective November 1, 2024. Tracey will remain with the company until her retirement on June 30, 2025 to ensure a smooth transition.
“With over 25 years of financial and leadership experience, Akhil is an exceptional and capable executive 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 continuing our strategic direction and decisions,” said Fabrizio Freda. “I look forward to partnering with Akhil as we continue to restore stronger, more sustainable profitability and accelerate sales growth across the company.”
In his new role as CFO, 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 continue to strengthen ELC’s incredibly talented Finance & Strategy team, continuing to drive agility and customer focus across the organization to drive sustainable value creation, governance and long-term strategic goals and priorities.
Since joining ELC in 2015, Akhil has held several financial leadership roles across the company. He was recently appointed ELC Senior Vice President, Corporate Controller, a role that oversees the Corporate Accounting and Financial Planning & Analysis, International and Online Finance, Pricing and Value Chain Finance organizations, serving on both the Finance and Strategy Leadership Team and the Executive Leadership Team. He also oversees the Operational Excellence pillar as part of the company’s recovery and earnings growth plan focused on improving inventory, cash and costs. Prior to his current role, he was Senior Vice President and Treasurer, where he was responsible for key treasury functions, the enterprise risk management program, real estate and oversight of the company’s retirement funds.
Akhil will serve as a member (existing or new) of several ELC senior leadership groups, including the Executive Leadership Team, Investment Development Committee, Trust Investment Committee and Enterprise Risk Management Committee.
“Akhil has demonstrated his capabilities as a transformational, visionary and collaborative leader who combines finance and strategy with an appreciation for creativity across our business and brands and a focus on consumers,” said William P. Lauder. “He also has a proven ability to build high-performing teams and organizations and will continue to strengthen the highly talented Finance & Strategy organization, which will be instrumental in advancing our long-term strategic goals and priorities.”
Akhil joined ELC in 2015 as Vice President, Global Finance & Strategy for the Estée Lauder brand and was subsequently appointed Senior Vice President, Global Finance & Strategy for the 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. In particular, he helped allocate resources to support and advance the best growth opportunities from a consumer, subcategory, geography and channel perspective.
He has also been a valued member of many of the company’s key corporate initiatives, providing strategic financial direction for projects that include transforming ELC’s planning processes and capabilities to support end-to-end operations from consumer demand through delivery.
“With its portfolio of iconic brands, extensive global reach and incredible talent, I am honored to lead the Global Finance team,” said Akhil Shrivastava. “I look forward to helping advance the company’s multiple growth drivers to restore stronger, more sustainable profitability and support the acceleration of sales growth across brands, product categories and regions, while evolving the business for the future.”
Prior to joining The Estée Lauder Companies, Akhil spent eighteen years at Procter & Gamble, where he held a number of financial and leadership roles across Asia, North America and international entities, including Chief Financial Officer for Gillette, North America.
Akhil graduated from Rewa Engineering College, India and holds a Masters in Finance and Control from Delhi University.
About The Estée Lauder Companies
The Estée Lauder Companies Inc. is a leading global manufacturer, marketer and marketer of quality skin care, makeup, fragrance and hair care products, and manages luxury and prestige brands worldwide. 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.
