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Akhil Shrivastava, an engineering graduate and finance master, is set to become the new CFO of beauty giant Estee Lauder, succeeding Tracey Travis.
Shrivastava, who joined Estee Lauder in 2015, has climbed the ranks from Vice President to Senior Vice President, and now CFO.
His new role includes overseeing a two-year turnaround plan and managing a $900,000 salary plus a $1 million bonus opportunity.

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He will assume the role on November 1

Meet Akhil Shrivastava: Beauty conglomerate Estee Lauder's new EVP, CFO

By Dwaipayan Roy

Jul 24, 2024

05:54 pm

What's the story

Estee Lauder, the renowned beauty brands conglomerate, has appointed Akhil Shrivastava as its new executive vice president (EVP) and chief financial officer (CFO). Shrivastava, who previously served as the firm's treasurer, will assume his new role on November 1. This change is part of a larger restructuring plan within the company, that includes reorganizing the sale of its brands.

Succession plan

Shrivastava to succeed Tracey Travis

Shrivastava is set to succeed Tracey Travis, the outgoing finance chief at Estee Lauder. Travis, who has held her position for over 10 years, will remain with the company until her official retirement on June 30 next year.

Career path

Journey to Estee Lauder's executive suite

Shrivastava, an engineering graduate from Rewa in Madhya Pradesh, furthered his education with a Master's Degree in Finance and Control from Delhi University. Prior to joining Estee Lauder in 2015, he spent 18 years at Procter & Gamble holding various finance and leadership roles across Asia, North America, and global businesses. He also served as the Finance Director for Gillette, North America.

Internal growth

Ascension within Estee Lauder

Upon joining Estee Lauder in 2015, Shrivastava was appointed as Vice President of Global Finance & Strategy. In January 2019, he was promoted to Senior Vice President of Global Finance and Strategy, for Jane Hertzmark Hudis's Brand Cluster. Most recently, he served as the Senior Vice President and corporate Controller. Throughout his tenure, Shrivastava has been a valued member of several key enterprise initiatives at the company.

Role details

Compensation and new responsibilities

As part of his compensation package, Shrivastava will receive an annual base salary of $900,000, along with an extra bonus opportunity of $1 million. His responsibilities as the new CFO will include overseeing Estee Lauder's two-year turnaround plan, which was unveiled in November. Additionally, he will oversee the 'Operational Excellence' pillar as part of the Profit Recovery and Growth Plan.