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CFO Brew // Mornin= g Brew // Update
Est=C3=A9e Lauder=E2=80=99s CFO on buildi= ng a globe-spanning career.
=
September 08, 2025Vie= w Online | Sign Up

Presented by

Happy Monday. The buy now, pay later platform Klarna paid $16 million to nonprofits fou= nded by the CEO=E2=80=99s wife. Now that=E2=80=99s our kind of love languag= e.

In this issue:

Gl= obetrotting

Warning signs

Even spread

=E2=80=94Jesse Klein, Natash= a Pi=C3=B1on, Courtney Vinopal

=

CAREER DEVELOPMENT

<= img alt=3D"Estee lauder CFO career global"src=3Dhttps://cdn.sanity.io/image= s/bl383u0v/production/2f8277978738a0a99526725fb1afbe6a101f9c9b-8309x6018.jp= g?w=3D668&q=3D70&auto=3Dformat style=3Dwidth:100%;max-width:670px;display:b= lock width=3D670>

Klaus Vedfelt/Getty Images

In his early career, Akhil Shrivastava was collecti= ng stamps on his passport.

Before taking over as CFO of Est=C3=A9e Lauder in November = 2024, Shrivastava went out of his way to build a uniquely global career. He= estimates that in his nearly two decades at Procter & Gamble, where he wor= ked until he moved to Est=C3=A9e Lauder in 2015, he lived in approximately = eight to 10 different houses around the world.

That=E2=80=99s what happens when your r= esume reads like a travelogue: Shrivastava has jumped from India to Thailan= d, Singapore to Cincinnati, Boston to New York, and the distant land of New= Jersey.

Fo= r those looking to make a career jump at some point, your passport doesn=E2= =80=99t need to be quite as well-worn. =E2=80=9CRaising your hand=E2=80=9D = for opportunities to build a =E2=80=9Cdiversity of experiences=E2=80=9D sho= uld do the trick just as well, Shrivastava said.

Still, he cautions that a wide range = of experiences isn=E2=80=99t enough by itself. =E2=80=9CYou [also] have to = build depth,=E2=80=9D he added. =E2=80=9CYou have to go to the bottom of th= e ocean before you can be the captain of the boat.=E2=80=9D

For more on building a global career, click here.=E2=80=94NP

<= a href=3Dhttps://links.morningbrew.com/c/Eiw?mbcid=3D41464462.128244&mid=3D= cf570572e2aa9470858061918db67c11&mbuuid=3Do4QL1cNbmoXnuCoAe35awHU8 rel=3Dno= opener style=3Dtext-decoration:none target=3D_blank> =C2=A0 =C2=A0

Presented by Apollo Global Management

3D"Apollo

Private capital is reshaping ho= w companies access long-term financing. In fact, 81% of all US loans in 202= 4 were private.

Apollo is helping lead this evolution. With sig= nificant scale, flexibility, and a focus on long-term partnership, Apollo p= rovides capital solutions to companies to support growth across sectors and= market cycles.

Over = the next decade, industries like energy, infrastructure, and technology wil= l require an estimated $75 trillion in CapEx to modernize and meet the grow= ing demand. This unprecedented level of investment is beyond the scope of p= ublic markets alone. Long-term projects need long-duration capital, and Apollo can provide companies what they need.<= /p>

Now you can unlock the power of private capital.

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TECHNOLOGY<= /h3>

<= div class=3Dheader-image-container style=3Dpadding-top:15px>3D"AI

Rudal= l30/Getty Images

Gee, what a strange, random coinci= dence: When industries go all-in on AI adoption, people might lose their jo= bs because of it.

The US =E2=80=9Cmay be witnessing the early stages of AI-driven job = displacement,=E2=80=9D according to a report published at the end of August by the Federal Reserve Bank o= f St. Louis.

Fed researchers were interested in the sharp slowdown of the labor market= in July=E2=80=99s jobs report, and, more broadly, they wondered to what de= gree =E2=80=9Cwidespread deployment of large language models=E2=80=9D was c= ontributing to rising unemployment.

Perhaps you remember that particular jobs report: = That=E2=80=99s the one that inspired President Trump to take the extremely unconventional move of fir= ing the Bureau of Labor Statistics=E2=80=99 commissioner hours after the Ju= ly results were released. July wasn=E2=80=99t a blip, though: August=E2=80= =99s jobs report was also bad.=

So, where = does AI factor in? To determine which industries had the highest AI prevale= nce, Fed researchers analyzed more than 19,000 tasks from the Department of= Labor=E2=80=99s O*NET database, which lists occupational characteristics a= nd worker requirements, and determined =E2=80=9Cwhether LLMs could reduce t= ask completion time by at least 50%,=E2=80=9D ultimately aggregating result= s =E2=80=9Cat the occupational level to create comprehensive AI exposure sc= ores.=E2=80=9D

Which jobs are most at= risk?=E2=80=94NP

=C2=A0 =C2=A0

COMPE= NSATION

=
3D"CFO

Feodora Chiosea/Getty Images

=

Should you hear= your colleagues in HR talking about peanut butter, you might be disappoint= ed to find out they=E2=80=99re not actually planning to restock the office = pantry.

Ins= tead, they may be referring to the decidedly less tasty practice of compens= ation planning. In the total rewards world, =E2=80=9Cpeanut butter=E2=80=9D= pay can refer to giving workers flat raises across the board, in the same = way you might spread the snack evenly across a piece of toast.

Starbucks recently said it would switch to the peanut= butter approach, giving all salaried employees in North America the same 2= % raise, rather than allowing managers to grant merit raises at their discr= etion. The shift is part of a broader turnaround effort that necessitates c= ost containment, the coffee chain said.

Granting flat raises isn=E2=80=99t unusual whe= n companies are dealing with tighter budgets, experts told HR Brew, but emp= loyers should clearly communicate the strategy behind this decision, and co= nsider its implications for performance management.

Shrinki= ng budgets. US employers expect to give employees a 3.5% raise, on= average, next year, according to a recent report from Payscale. A majority of those who expect to scale = back their compensation budgets cited concern about =E2=80=9Cfuture economi= c conditions or business performance.=E2=80=9D

Keep reading HR Brew=E2=80=99s story on the risks and rewards of = flat raises here.=E2=80=94CV

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Together With Financial Times

3D"Financial

Sharpen your financial strategy. Stay ahead with the= Financial Times=E2=80=94your trusted sour= ce for expert analysis, robust data, and in-depth reporting on global busin= ess. Gain exclusive insights into markets, policy, and investment trends so= you can make informed decisions with confidence. Source: FT. Read more.

<= td style=3D"color:#333;border-collapse:collapse;box-shadow:none;background-= color:#fff;border:1px solid #e6e6e6;border-radius:15px;margin-bottom:0;font= -family:Helvetica,Arial,sans-serif;font-size:16px;display:block"class=3Dcar= d>
=

MARKE= T FORCES

3D"market

Francis Scialabba=

Today=E2=80=99s top finance reads.

Stat:= $553.9 Million. That=E2=80=99s how much Google and Shein collecti= vely were fined by France for violating the country=E2=80=99s Data Protecti= on Act for a lack of transparency around cookies. The tracking kind, not th= e ones found in a French bakery. (= Wall Street Journal)

Quote: =E2=80=9CI=E2=80=99= ve reduced it from 9,000 heads to about 5,000, because I need less heads.= =E2=80=9D=E2=80=94Salesforce CEO Jack Benioff, of his customer support team= The reason he needs fewer reps? AI, of course. (NBC)

Read: CFO turnover is gett= ing higher. But it=E2=80=99s because they=E2=80=99re aiming for the top job= (Fortune)

Th= e rise of private: Private capital now accounts for the majority o= f US lending. Apollo partners with CFOs to help deliver custom financing so= lutions built for today=E2=80=99s capital demands. Learn more here.*

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*A message from our sponsor.=

=
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=C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0

Written by Jesse Klein, Natasha Pi= =C3=B1on, and Courtney Vinopal

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