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Estée Lauder Companies named Akhil Shrivastava executive vice president and chief financial officer, effective Nov. 1. Shrivastava succeeds Tracey Travis, who is set to retire after holding the position since 2012. Travis will remain at the company in a support role until June 30, 2025. Shrivastava will report to William P. Lauder, executive chairman, and Fabrizio Freda, president and chief executive officer.
Shrivastava, who most recently served as senior vice president, corporate controller, joined Estée Lauder in 2015 after 18 years at Procter & Gamble.
The appointment comes at a challenging time for Estée Lauder. The beauty conglomerate has struggled to bounce back post-pandemic, particularly in China. After years of decline, it returned to net sales growth during the third quarter of 2024, ended March 31, 2024, and upgraded its full-year profit forecast. Still, growth in China was in the low single digits and investors remain cautious.
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