The Estée Lauder Companies Inc. has named Akhil Shrivastava as executive vice president and chief financial officer, effective November 1, 2024, succeeding Tracey T. Travis, who is retiring.
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The Estée Lauder Companies Inc. has named Akhil Shrivastava as executive vice president and chief financial officer, effective November 1, 2024, succeeding Tracey T. Travis, who is retiring.
Shrivastava, who has been with the company since 2015, will report to William P. Lauder, executive chairman, and Fabrizio Freda, president and chief executive officer.
The incoming CFO's responsibilities will include serving as a member of several of company'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.
To support the transition, Travis will remain at the company through June 30, 2025.
“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 Freda. “I look forward to partnering with Akhil as we continue to rebuild stronger, more sustainable profitability and sales growth acceleration across the business.”
“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 Lauder. “He also has a keen ability to cultivate high-performing teams and organizations and will continue to strengthen the tremendously talented finance and strategy organization, which will be instrumental in continuing to drive our strategic business objectives and priorities for the long-term.”
“With its leading portfolio of iconic brands, extensive global reach, and impressively talented people, I am honored to lead the global finance team,” said 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.”
Inflection Point for Company & CFO Transition
Travis played a pivotal role in strategic acquisitions and investments such as the ultimate purchase of Deciem in 2024 and Tom Ford in 2022.DW labs Incorporated
Travis has spent 12 years at the company and has led the company’s global finance, accounting, tax, treasury, investor relations, information technology and strategy and new business development organizations.
She also co-led the company’s Global Value Council and served as a member of the executive leadership team and the investment development committee.
Notably, Travis played a pivotal role in strategic acquisitions and investments such as the ultimate purchase of Deciem in 2024 and Tom Ford in 2022.
She has also led the New Incubation Ventures (NIV) team, which is involved in deals with Code Mint, Vyrao and TikTok's celebration of brand storytellers.
Of her tenure, Fabrizio Freda, president and CEO, says, “Tracey has been an invaluable business partner and a trusted advisor to me, our executives and board of directors, as well as a mentor and role model to many across our organization."
Freda adds, "She has built and led a robust, integrated global finance and strategy organization that has served as a valued business partner across the company and has helped to optimize delivery of our financial plans. Her financial acumen, discipline, and operational excellence have been essential to our company’s growth, and so many areas of our organization have her valuable imprint on them.”
William P. Lauder, executive chairman of the company, adds, “An inspiring and visionary leader, Tracey has been deeply committed to exemplifying our values throughout her years of dedicated service to our company. Tracey has had a remarkable impact on driving our business forward by leading our portfolio strategy, but also by developing our talent, cultivating a culture of inclusion and continued learning, and advancing initiatives to foster a more diverse and equitable workplace and marketplace.”
Read a full appreciation of Travis here.
