MAM
NK Proteins onboards Bhavna Shah as deputy CEO
Mumbai: NK Proteins Pvt Ltd, an oil company with the popular brand ‘Tirupati’, named Bhavna Shah as deputy CEO. Shah’s expertise and leadership will advance strategic plans and long-term vision.
Her strategic insights and industry acumen will guide the company through market changes and growth exploration. She will oversee operations in Mumbai.
Shah, with a distinguished 30-year career, brings vast experience and strategic vision to her new role. She led initiatives in product promotion, sustainability, and trade relations as head of the Malaysian palm oil council for India, Bangladesh, Nepal, and Sri Lanka, earning recognition as an industry leader.
Shah has a notable career, having been the past president of the Maharashtra Chapter and co-chair of the national board of advisors for the MSME & Startups Forum for Aatmanirbhar Bharat. She also made valuable contributions as an independent director for Ruchi Soya Industries Ltd.
Throughout her career, Shah has advised management on market development strategies and formulating policies to achieve organisational objectives. Among her notable achievements, Shah was honoured as the first woman to receive the prestigious ‘Globoil Person of the Year’ award in 2018 for her outstanding contributions to the vegetable oils trade and industry. She has also been recognised by SCODET ASIA with a Special Award for her exceptional industry contributions.
NK Proteins Pvt Ltd chairman and MD Nimish Patel said, “Ms. Shah’s appointment underscores NK Proteins’ commitment to strengthening its leadership team with seasoned professionals who align with its strategic objectives. The company remains dedicated to excellence and innovation in the industry, with Ms. Shah poised to play a pivotal role in driving its strategic initiatives forward.”
NK Proteins P Ltd MD Priyam Patel added, “We extend our warmest welcome to Ms. Bhavna Shah and look forward to leveraging her leadership to drive our company towards new heights of success. With her extensive experience and strategic acumen, we are confident in Ms Shah’s ability to drive our company’s growth and success.”
Commenting on her appointment, Bhavna Shah stated, “I am honoured to join NK Proteins Ltd as Deputy CEO and look forward to contributing to the company’s growth and success. NK Proteins is a prominent player in the edible and non-edible oil sector and consistently pursues excellence and innovation. I am excited about the opportunities ahead.”
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.
