MAM
ACESO appoints Ranjit Kulkarni to drive research and strategic acquisitions initiatives
Mumbai: ACESO, a pioneering market maker company revolutionising the life insurance landscape, is pleased to announce the appointment of Ranjit Kulkarni as its new research and strategic acquisitions head. With over 35 years of distinguished experience in the life insurance industry, Ranjit brings a wealth of expertise and insight to his new role.
As ACESO continues to innovate and provide optimal solutions to policyholders, Ranjit’s appointment marks a significant milestone in the company’s strategic growth. His extensive network within the insurance fraternity ensures that ACESO remains at the forefront of industry trends and developments.
In his new role, Ranjit will lead ACESO’s team in leveraging the C2B platform, specifically designed for LIC policy holders, called ALIP – Assignment of Life Insurance Policies. This platform offers an alternative for policyholders who are keen to surrender their LIC Policies or where policies are lapsed, ensuring that policyholders do not lose out on their entire life-cover benefits. Additionally, this platform also helps in sustaining the income of the agents/ insurance advisors.
Ranjit’s journey in the field of life insurance began with a passion for mathematics, which served as the cornerstone for his analytical prowess in navigating the complexities of insurance products. As a third-generation professional in insurance business development, Ranjit has garnered numerous national and international awards for his outstanding achievements. His pivotal contribution as a mentor has shaped top-performing insurance advisors, empowering them to excel in their roles and reach their full potential.
Commenting on Ranjit’s appointment, ACESO founder Ketan Mehta said, “We are thrilled to welcome Ranjit Kulkarni to the ACESO team as our research and strategic acquisitions head. With his extensive industry experience and unwavering commitment to excellence, Ranjit will play a crucial role in driving our mission to empower policyholders and redefine the life insurance landscape. His leadership will further propel ACESO as a leader in delivering innovative solutions to our valued customers.”
Ranjit expressing his enthusiasm, said, “I am honoured to join ACESO and contribute to its mission of providing innovative solutions to policyholders. I look forward to working with the team to further enhance ACESO’s position as a leader in the life insurance market.”
Having facilitated the assignment of over Rs 400 million worth of Endowment policies issued by LIC of India, ACESO and its associate company have showcased a remarkable dedication to empowering policyholders. With a reputation for professionalism and expertise, ACESO boasts in-depth knowledge of insurance plans and products offered by LIC of India, setting it apart as a trusted authority in the field.
ACESO’s Complete Secondary Life Asset Management servicing capabilities, administered through a professional SEBI Registered trustee company, solidify its position as a cornerstone in the industry, providing seamless support to policyholders throughout their journey. With Ranjit Kulkarni at the helm of research and strategic acquisitions, ACESO reaffirms its commitment to delivering unparalleled value to policyholders and solidifying its position as a trailblazer in the insurance industry.
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
