L'ORÉAL
News Release: "Important appointments within L'Oréal's Executive Committee"
Important appointments within L'Oréal's Executive Committee
Clichy, 19 November 2018 - L'Oréal announces important appointments within the Group's Executive Committee.
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Appointment of Christophe Babule as Executive Vice-President, Chief Financial Officer
Christophe Babule is appointed Executive Vice-President, Chief Financial Officer and member of L'Oréal's Executive Committee as of mid-February 2019. He succeeds Christian Mulliez who after 17 years as Executive Vice-President, Chief Financial Officer, and 36 years in the Group, has expressed his desire to take a step back from his professional activity for personal reasons. Christian Mulliez will accompany Christophe Babule in his new role until he leaves L'Oréal end-April 2019, and will handover his operational responsibilities to Christophe Babule after the annual financial analysts meeting in February 2019.
Christophe Babule will report directly to Jean-Paul Agon, Chairman and Chief Executive Officer.
Christophe has spent his career with L'Oréal, which he joined in 1988 after his studies at HEC Paris. He spent 7 years in the Luxury Division in Italy before moving to Asia, first based in France for the zone, and subsequently as Director of Administration & Finance based in China. In 2007, he was appointed Administration & Financial Director for Mexico. In 2010, he returned to France to join Christian Mulliez's Executive Committee as Director of Internal Audit for nearly 5 years. Afterwards he was appointed to his current position as Administration & Financial Director for the Asia Pacific Zone based in Shanghai and then in Hong Kong.
Jean-Paul Agon said "I would like to thank Christian Mulliez and express my gratitude for his outstanding commitment and important contribution to L'Oréal's success during all these years. Thanks to his high level of expertise and his personal qualities, we have built teams of very high standard all over the world. We wish him every success in his new life. We are pleased to welcome Christophe Babule to the Executive Committee who brings us his significant experience of financial management and deep knowledge of business and Asia."
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Appointment of Cyril Chapuy as President L'Oréal Luxe
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Cyril Chapuy is appointed President L'Oréal Luxe and member of the Group's Executive Committee as of 1 January 2019. He will succeed Nicolas Hieronimus appointed Deputy CEO in charge of Divisions on 20 April 2017. Cyril Chapuy will report to Nicolas Hieronimus.