L’Oréal’s Board of Directors announced today the name of Jean-Paul Agon’s successor as Chief Executive Officer as well as a new governance at the head of the group from 1 May 2021.
As expected, Nicolas Hieronimus will take over the head of the group as Chief Executive Officer. Jean-Paul Agon will remain Chairman of the Board of Directors, a position he has held since 2011.
Nicolas Hieronimus joined L’Oréal 33 years ago and has spent all his career with the Group, in many countries and divisions. He has been Deputy CEO in charge of Divisions since 2017.
Barbara Lavernos will succeed Nicolas Hieronimus as Deputy Managing Director from May 1, 2021. As previously announced, she will also lead the Research, Innovation, Technology from February 2021.
“Nicolas Hieronimus is an inspiring leader who has all the qualities required to be the CEO of L’Oréal. His great sensitivity to the needs and expectations of consumers, his perfect understanding of the spirit of the times, his marketing experience of beauty in all channels, countries and categories, his intimate knowledge of the Group’s brands and his ability to unite and engage teams make him the best candidate to lead L’Oréal,” commented Jean-Paul Agon, adding that the appointment of Barbara Lavernos as Deputy CEO, “research is placed at the highest level of the Group, confirming its critical role for L’Oréal.”
These changes will take effect on 1 May 2021 by decision of the Board of Directors at the meeting to be held following the company’s Annual General Meeting on 20 April 2021. The General Meeting will notably be called upon to appoint Nicolas Hieronimus as director and to approve the remuneration policy corresponding to the new organisation.