Rachel Lockett: Vice President of Marketing, MAC Cosmetics

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Rachel Lockett“It might seem tough at first, but I’ve come to learn that you have to relax and enjoy the ride. No journey is linear where you must pass A and B, to reach C, or else you’re lost. That’s just not how it works,” says Rachel Lockett.

Lockett shares her thoughts on embracing a career pivot, building leadership skills through diverse experiences, prioritizing team development, and the importance of finding meaning in her work.

Pivoting from the Public to the Private Sector

Lockett’s path into marketing in the beauty industry took an unconventional route, beginning with a career in international relations. Working on the Mexico desk at the State Department while getting a graduate degree, she found herself intrigued by the macro subject matter and sense of altruism behind the work, but ultimately craved a faster pace and more control. This led her to pivot into the private sector, earning an MBA in marketing and finance and joining Johnson & Johnson’s international rotation program before landing a role at L’Oréal in New York.

She reflects, “I was interviewing at the UN while I was interviewing at L’Oréal, but the next phase for the UN was sitting for an exam. When L’Oreal offered me the job, I had to choose. I remember there being a lot of pressure to make a ‘right choice,’ feeling the weight of a decision that might be irreversible.”

Lockett recognizes that even though she felt the heaviness of the decision at the time, she is pleased with the way things turned out, particularly as she never even initially saw herself in the beauty space.

“Initially, I didn’t see myself as a ‘beauty girl,’ but my perception has changed over time. I’ve really grown to adore it. Throughout my career, I’ve delved into various roles in trade marketing, brand marketing, and consumer engagement, all within the beauty vertical. I’ve come to realize that I am, in fact, a ‘beauty girl’ and I proudly embrace this identity.”

Empowering Women to Express their Unique Individuality and Beauty

Lockett finds her marketing career in the beauty industry to be as dynamic as she anticipated, constantly offering new challenges and opportunities that energize her.

“The platforms, retailers and landscape of competitors are always changing…there is also the opportunity to work cross-functionally with retailers, media partners, and event activation vendors, making it both diverse and exciting.”

Her enthusiasm for the work shows through in what she has been able to accomplish, with her team winning an Ogilvy award and two Glossy awards for different brand campaigns. These achievements also reflect her commitment to finding innovative ideas to break through and “introduce MAC to a younger Gen Z consumer.” She continues, “a lot of these efforts have been specifically targeted around those goals and have successfully moved the needle in increasing our awareness among younger multi-ethnic consumers.”

Lockett’s aim for MAC is to continue to promote and expand diverse representations of beauty, whether it be body type, skin color and texture, sexual orientation, or gender, through thoughtful decisions around casting, who they feature on their story wall, influencers they work with, and people they feature on their social handles.

“All of those representations are really powerful, and they make a huge impact on how people see themselves and experience the brand’s transformative effect.” She continues, “it’s about encouraging self-expression and experimentation and affirming that everyone is beautiful in their own way.”

Becoming a Well-Rounded Leader who Uses Her Voice

Lockett emphasizes the dual importance of creativity and operational savvy in marketing leadership. While innovative ideas are significant, effective leadership also hinges on adeptly navigating organizational processes, securing resources, and assembling the right team. She advocates for cultivating leadership skills through diverse experiences rather than solely focusing on moving up the ladder.

“Success stems from a breadth of experiences. The broader your understanding and hands-on involvement across domains, the better equipped you will be to thrive in senior roles. Focusing on the richness and depth of experience versus the speed to get there will pay off in the long-term.”

As Lockett builds on her varied experiences to advance her career, she is committed to using her voice and point of view in how she shows up as a leader, particularly as a woman of color. Even though she finds the beauty industry to generally have more women in leadership roles, she notes that there are noticeably more men in the higher ranks of beauty.

She advocates, “As you move up, it’s important to bring your voice and your experience. Remember to speak up, because you bring a unique perspective and a richness to the conversation or strategy discussion that’s not always represented.”

Valuing the Development and Growth of Her Team

Building relationships and sustaining connections is another key element of Lockett’s leadership style, particularly when it comes to managing a team.

“As your team grows and as your profile becomes more visible cross-functionally, simple gestures like walking around the office, asking about people’s weekends, and fostering personal connections can make a big difference in their engagement and commitment because they know you genuinely care.”

Creating engaged and high-performing teams by letting everyone in on the “why” can also go a long way in making people feel included and that they are an important contributing team member.

“As you progress into senior leadership roles, you may gain insight into the ‘why’ of certain strategies, yet this information may not always trickle down to every team. Pausing to communicate the overarching vision to the broader group and explaining the reasons behind our collective efforts fosters camaraderie, understanding, and an investment from the entire team.”

Beyond engaging her team in the vision, Lockett fosters a strong team dynamic in being accessible and open to hearing feedback, demonstrating that the team has a voice and can influence change. She also looks for opportunities for the team to bond outside the office, whether it be a graffiti class or mini golf, so that the team can get to know one another in a more relaxed atmosphere, as she notes, “it can go a long way when down the line they might be in a challenging conversation or have to work long hours getting ready for a big launch.”

Coaching Helps Connect the Dots

Lockett’s insightful reflections on her development as a leader are testament to the value of executive coaching, a recent experience for her.

“Having external perspective has helped me connect the dots between my experiences and approach to things by having someone externally mirror it back to me. Also, through targeted resources and exercises, I’ve gleaned more insights into how other people learn and how I may need to adapt and present information to effectively communicate and engage with others.”

Lockett notes that the benefit of having someone outside the organization facilitate that reflective process is that it helps reveal potential limiting beliefs or behaviors that may not be beneficial, opening new possibilities for how to approach an issue.

“I’ve seen the impact of leadership coaching reflected in my ability to dedicate more time with my team, listen to their perspectives and advocate for what they need in a way that I may not have in the past.”

Making an Impact with the Relaunch of VIVA GLAM

Lockett is an inspirational leader who not only hopes to make an impact with her team, but also on a macro level through the relaunching of the MAC VIVA GLAM campaign. The charitable arm of MAC, VIVA GLAM has given over half a billion dollars globally to support organizations in their mission to create healthy futures and equal rights for all. Now thirty years after its founding, MAC VIVA GLAM has an expanded mission with new pillars including sexual equality, racial equality, gender equality and sustainability that all markets can tailor with grant funding.

“Being involved with VIVA GLAM is one of my favorite parts of working on MAC. I get to oversee the programs that we will run and the charities that we support, allowing me to play a role in making an impact on something – and someone – that is much bigger than myself.”

Reflecting on where she started with aspirations to work in international relations, she realizes, “finding what’s important to you and how to bring that into your work” is what she values most, and she is excited to have an opportunity to continue to do that in her leadership role at MAC.

By Jessica Robaire

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Why the “E” in ESG Matters: Environmental Responsibility for Companies and Leaders

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Why the E in ESG Matters Environmental ResponsibilityWhile Earth Day serves as an annual reminder to appreciate our planet, the escalating effects of climate change highlight the importance of prioritizing environmental stewardship year-round. Corporations and businesses are increasingly focusing on integrating more innovative Environmental, Social, and Governance (ESG) criteria in their decision-making and investment strategies. While each component plays a vital role in sustainable business practices, the “E” in ESG is significant in driving a positive environmental impact while also creating long-term value for businesses.

Recent News in Business and Environmental Responsibility

According to the Morningstar report for the last quarter of 2023, “global sustainable funds experienced net outflows of USD 2.5 billion, marking the first time they entered negative territory. Despite the overall decline, European sustainable funds remained resilient and attracted USD 3.3 billion of net new money in Q4, primarily driven by passive funds. On the other hand, U.S. sustainable funds saw net outflows of USD 5 billion, contributing to a total of USD 13 billion outflows for the year.”

Interestingly, 2024 has already been a hotbed of progress and reversals with four leading banks announcing that they are leaving the Equator Principle formally due to Risk and Antitrust issues, but will continue to follow the tenets of the principle as a guide. Political backlash and special interests have cost BlackRock a self-disclosed revenue loss of $4 billion dollars with the recent example this past month whereby the Texas School Fund pulled away from Blackrock in support of Big Oil, stating Blackrock’s fund to be against state law which forbids boycotting fossil fuel.

While the volatility of the political landscape continues, there is no doubt that there are career opportunities forming from investment jobs to deeper compliance nuances for risk, legal, and compliance roles. The broader participation for ESG inside firms goes beyond the CTIO seat to every C-suite member with the consulting firms benchmarking and pitching to get companies ready for current and future legislation such as the ISSB standard IFRS S2. And the Global Stocktake is underway as countries plan for COP28 where they will assess the progress made toward mitigating global warming since the Paris Agreement in 2015. The results from the first-ever global stocktake will be discussed at COP28.

Navigating Environmental Challenges: Innovation, Trust, and Market Trends

Apple recently released a carbon neutral Apple Watch, the first in their lineup in working towards the ambitious goal of making every product carbon neutral by 2030. Technology and AI and startups in the space are driving innovation and fostering competitiveness. And it is innovation that can prevent or warn us of risks of climate change, including increased severe weather events, rising sea levels, and changes in temperature that can disrupt supply chains, cause infrastructure and property damage, and increase insurance costs, posing a significant threat to business operations and financial performance. The impact on the supply chain is long and deep with an example being that a 2022 drought in southwest China led to reduced hydropower production, cutting power to factories that supplied electronics and auto parts, and ultimately curtailed production for companies like Toyota, Volkswagen, and Foxconn.

As consumers and investors become more environmentally conscious, the value of brand reputation and stakeholder trust is particularly relevant. By showing a track record of environmentally responsible goals and outcomes, companies can gain the trust and buying power of consumers and investors. On the other hand, “greenwashing”, or making misleading claims about a company’s environmental impact, negatively impacts brand reputation and customer satisfaction. Showing a commitment to environmentally responsible practices is not only important for gaining consumer trust, but also in hiring and retaining employees. Like consumers, employees are interested in more than just paying lip service to “going green”, they also want to see tangible outcomes and be engaged in the process. Leaders can do more to address sustainability concerns transparently, building trust and credibility with stakeholders like consumers, employees, and investors.

The market is clued in to the mounting tide of support for environmentally responsible business practices, with investors and shareholders increasingly looking at companies’ environmental performance in considering their investment decisions. According to Morgan Stanley, more than half of individual investors say they plan to increase their allocations to sustainable investments in the next year, while more than 70% believe strong ESG practices can lead to higher returns. This shows that aligning with market expectations of environmental responsibility enhances companies’ attractiveness to investors and shareholders.

Wise Words from Top Women in ESG

Sustainability magazine named the Top 10 Women in ESG for 2023 who are worth checking out. The list of course is not exhaustive with so many great women having a role in the “E” in ESG, as it continues to play an important part in shaping corporate strategy, decision-making, and performance.

Ultimately change takes great negotiation skills and understanding. We recently profiled Susan Nickey, Executive Vice President and Chief Client Officer at HASI who astutely captures the nuance of the industry.

“When you’re trying to come up with a solution or break down a wall, it isn’t simply saying, ‘it needs to happen.’ You have to spend a lot of time thinking about creative solutions to make it work for an incumbent who might say ‘no, I don’t want that’, or ‘I’m not going to do that.’ It’s how you listen to both sides of an argument and come up with a creative solution. Thoughtfully parsed risk allocation, for example, can enable both parties to move forward in a way that they both deem is balanced and fair for them.”

The “E” in ESG is a fundamental aspect of corporate sustainability, responsible leadership, and long-term value creation. In the words of another of our recent profiles, Geneviève Piché, Head of Sustainable Finance and Advisory, Corporate Investment & Banking at Wells Fargo:

“Sustainability and climate efforts are about value creation. They are not check-the-box exercises. It’s about developing strategies that can drive value for companies while making the world a better place.”

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Dania Shahzad: Business Manager, Client Advisory Group, PGIM

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“Over the years, I’ve not always felt confident walking into certain scenarios as a brown, Pakistani, Muslim woman,” says Dania Shahzad. “When I reflect on my previous self, the same things I was nervous about are now what make me feel the most confident and empowered.”

Shahzad speaks to finding inspiration in her family, building confidence in the face of adversity, and how she lives her life steadfast in her conviction that women can do anything.

Finding Her Footing

Shahzad was inspired by her father’s successful career in the financial industry when she chose to major in business during her freshman year of college.

“My dad and I have similar personalities – we are both bold, confident, personable people. I used to go to ‘Take Your Child to Work Day’ and the New York Stock Exchange as a child, and it was so exciting. I was always interested in his world.”

As much as she found her father’s career in the financial services industry compelling, Shahzad recognized that, depending on the role, it could come at the price of long days and working weekends. However, she was determined to find a position and company that encouraged and supported a strong work/life balance while giving her the opportunity to learn, grow, and explore various facets of the financial services industry.

After interning at a variety of firms while in college, she was excited to land at PGIM upon graduating. She says the culture, the wealth of knowledge and breadth of opportunity at PGIM is what’s kept her at the firm.

“It’s a great company for somebody who wants to explore different aspects of the financial services industry,” Shahzad says. She shares that networking opportunities and business resource groups have been particularly enriching for her, as they bring together people from all different backgrounds.

“At PGIM, asking questions, making connections, and taking calculated risks are all encouraged—that helps employees maximize their potential and make the most of their careers.”

Since joining PGIM, Shahzad participated in a two-and-a-half-year rotational program, giving her exposure to several parts of the business and the chance to adapt to new challenges and build her skills. Now, as the business manager for PGIM’s Client Advisory Group, she enjoys handling a variety of responsibilities while leveraging her problem solving and project management skills, such as working on strategic priorities and business reviews, and making connections across the organization, which helps her make progress on the firm’s strategic initiatives and get work done more efficiently. This role has also pushed her to discover her voice, particularly as she is often the most junior person in the room.

Believing She Belongs in the Room

Oftentimes being the most junior person, woman or minority in the room can be intimidating under any circumstances. Shahzad notes that her resilience and courage have grown alongside her belief in the value she brings to the table because of her experience and the encouragement of mentors.

“I’ve grown through advice and mentorship. When entering rooms with senior stakeholders, I remind myself why I belong, why I should be there, and embody that. In the past, I would almost physically make myself disappear, taking more of a passive role in group discussions, but I have gained the confidence to show up more fully.”

One of the leadership positions Shahzad stepped into is as co-lead of the Asian Global Network, an employee affinity group at PGIM. The experience has given her the opportunity to make connections and form peer mentorships across the organization, building her network of support and influence beyond her own group.

“It’s exciting that despite being the most junior of the co-leads, people look to me for recommendations and leadership – and I get to build all these connections. The group has been invaluable to me.”

Shahzad reflects that finding her voice has not only impacted how she sees herself, but how she is viewed by senior leaders.

“It changed how my leadership team sees me. I’m considered someone who can lead and assume bigger responsibilities.”
Shahzad’s personal and professional growth have also influenced how she manages challenging working relationships. “I’m generally a very positive person, but at the same time, I’ve come to recognize and accept that not everyone is going to connect with me, and that’s okay.”

“I’ve learned that you can deliver your opinion, your voice, your vision to a project in a professional way, even when you’re not seeing eye-to-eye with someone. You can still work together productively.”

Embodying the Belief that Women Can do Anything

Shahzad credits her strong female support system as a significant contributor to the confidence she exudes today.

“I believe women are incredibly strong. I have learned so much from the women in my personal and professional life and their experiences. I look at what we’ve accomplished collectively and think, ‘We really can do anything.’”

She hopes to be an example to her two nieces, teaching them how to courageously show up in the world as their authentic selves.

“They are two South Asian females who are going to grow up in the U.S. I want to be able to help them navigate that experience, while also showing them all the powerful things that a woman can do.”

Shahzad notes that part of setting that example is demonstrating her commitment to giving back to the community that has supported her. Serving as the VP-at-Large for the New Jersey Institute of Technology (NJIT) Alumni Board of Directors, her alma mater, she engages with students and actively contributes to the university where she once held a full scholarship.

“Inside, I feel deeply privileged to have such a great life in America. I am passionate about wanting to spend more of my time giving back, and the Alumni Board is one way to do that.” Another important part of Shahzad’s philanthropy ties to her faith – spending time engaged with her local mosque and affiliated community organizations, such as supporting children in need.

Authenticity as an Influencer

Shahzad’s message of empowerment reaches more than the people she works with. In fact, outside of work, Shahzad has gained a following on social media, sharing beauty tips based on her cultural traditions, fashion trends, her adventures around the globe, and more. The success of her platform is evidence of the positive impact that can be achieved by having the courage to stick to your convictions.

“I was bullied as a child for having these beauty rituals, but I persisted because I believed in their benefits and cherished the bonding moments they created with my family. Today, the same hair and skincare secrets and ingredients are becoming popular and normalized in the beauty standards and industry in the U.S. I’m proud of these rituals and passionate about using my platform because I’ve worked hard to create a safe space for women to learn and ask questions while sharing tips from my family and our heritage.”

Shahzad also attributes the success of her platform to the skills she’s attained through her work at PGIM. Applying her project management experience and organizational expertise, Shahzad continually receives positive feedback from brand owners and CEOs about her high level of professionalism.

“I’m really grateful for the experiences I’ve had. I feel empowered that I can have this meaningful career in finance and get to express my more creative side—I can be myself all the time.”

By Jessica Robaire

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Op-Ed: NextUp for Women Board Members – What’s your Plus One?

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NextUp Women BoardI recently attended a breakfast for 150+ women board directors hosted by Julie Daum, leader of Spencer Stuart’s North American board practice, to listen to the findings from their 2023 S&P 500 New Director and Diversity Snapshot. The findings and discussion that followed were energizing and sobering. Some specific findings that struck me were the progress of women directors in the S&P 500 over the past decade. Almost half–45% percent–of the class of 2023 were women, a 92% increase over the past decade. Women now account for 33% of S&P 500 directors, an 83% increase from a decade ago. An astounding 67% of the 2023 class identified as diverse candidates. Once the audience stopped high fiving one another, Spencer Stuart went on to outline some more sobering trends.

Among the top ten priorities for board selection, gender diversity dropped from top to #8. Hiring candidates with proven enterprise operating experience now topped the list. And there are significantly more males than female with proven enterprise operating experience. If boards are prioritizing traditional skills and capabilities – the pool of women candidates is now smaller. Will all the progress advancing women into board positions now decline?

Maybe not. First, remember that there are exponentially more opportunities for directors beyond the S&P 500. Hundreds more. And if we add private equity boards and startup companies, these opportunities are in the thousands. While competing for board positions will always be competitive, if you broaden your pool and extend your network beyond a traditional set then you might find some interesting opportunities.

I have had the privilege of serving as an independent director on two private equity boards owned by companies, Altamont Capital Partners, and The Riverside Company. I currently serve on a public company board, Cantaloupe, Inc. (NASDAQ: CTLP), and I am a non-voting board member of NextUp where I serve as chief executive officer. NextUp is the premier nonprofit member association firmly focused on developing the pipeline of future women leaders. Women reach out to me to find out how I was able to land these directorships. And as a woman whose day job is helping women advance in business, I am more than happy to offer a few words of advice.

First, think about how your specific skills might give you an enormous competitive advantage. Define your advantage as your “Plus One.” I landed my first board position on a private equity (PE) board looking for a woman + Olympic licensing experience (that is a pretty short list!). But this company was the leader in design and manufacture of gymnastic apparel. What is your Plus One? If it is Artificial Intelligence, your phone will be ringing off the hook! How about experience in direct marketing or membership? I am going to bet that pharmaceutical companies engaged in serving millions of consumers purchasing weight loss drugs are going to be looking for women with a Plus One in CRM.

Which brings me to my second most important piece of advice.

As a board member, your job is to “govern” not to “do.” The quickest way to derail a healthy board discussion is from the rookie who thinks they are on the board to do the job of the management team. They are not. The exception is your role on the board committee. Your finance or accounting degree is going to look attractive to a board looking for someone to serve on Audit. Your HR background will make you a stellar match for Compensation. But, as an independent director, you are there to advise, support and evaluate. Conversely, if rolling up your sleeves and diving in is your gig, then a private equity opportunity may be the right match for you. PE boards prioritize subject matter expertise and are willing to take a risk on those with broad experience, but with a more junior title. They value seasoned pros who lean in on projects. Or have an unbelievable rolodex to help the company. Making a personal investment might be a way to further underline your commitment to the board.

Finally, board positions—private and public—are rare. There are a number of other opportunities where you can gain experience, satisfaction, financial reward and valuable experiences. Right now, as CEO of NextUp, I am fulfilling one of the most satisfying career goals by developing thousands of the next generation of women business leaders. For two-plus decades, NextUp has been partnering with corporations to provide opportunities that build capabilities for the next generation of leaders. And I am certain that more than a few of these will end up in the boardroom.

By: Lisa Baird is the CEO and board member of NextUp, the nonprofit that advances all women in business, and serves on the Board of Directors for Cantaloupe, Inc., a digital payments and software services company that provides end-to-end technology solutions for self-service commerce, and which is recognized as a “Champion of Board Diversity” by the Forum of Executive Women for three years in a row. Cantaloupe is proud to have 44 percent of its Board women. Lisa previously served on the boards of Elite Sportswear and Fox Racing, now a subsidiary of Revelyst.

(Guest Contribution: The opinions and views of guest contributions are not necessarily those of theglasshammer.com).

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