Estée Lauder controller lands CFO seat amid restructuring

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The story "Estée Lauder controller lands CFO seat amid restructuring" was covered 20 hours ago by Retail Dive, a news publisher based in United States.

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Retail Dive 20h ago

Estée Lauder controller lands CFO seat amid restructuring - Retail Dive

Quick Summary:

Akhil Shrivastava, a nine-year company veteran, understands “the levers the company can pull to revive growth,” Morningstar analyst Dan Su writes.

In his new role Shrivastava, effective Nov.1, will receive an annual base salary of $900,000 with an aggregate bonus opportunity of $1 million, which will be pro-rated for the months during the year in which he takes the new position, according to a securities filing.

In addition, we think the company is in the process of exiting unprofitable brands and channels while carefully managing the impact on the overall company image and important retailer relations,” the report states.