Estee Lauder names Akhil Shrivastava as CFO

(Reuters) – Estee Lauder (NYSE:) said on Tuesday insider Akhil Shrivastava will succeed Tracey Travis as the MAC lipstick maker’s finance chief, following her decision to retire after 12 years in the role.

Shrivastava will assume his new role effective Nov. 1, and Tracey will remain at the company until her retirement on June 30, 2025, to support a seamless transition, the company said.

Before joining Estee Lauder in 2015, Shrivastava spent 18 years at Procter & Gamble (NYSE:) in several finance and leadership roles.

Under Travis’ leadership, Estee Lauder significantly strengthened its finances, made extensive investments in innovation and digital transformation, and also completed several acquisitions.