L'Oréal

News release: "Annual General Meeting and Board of Directors’ Meeting of 20 April 2021" - Seite 2

The Board of Directors paid a heartfelt tribute to Mr Jean-Paul Agon and expressed its profound gratitude for his exceptional performance as Chief Executive Officer of L’Oréal since 2006. A visionary leader with outstanding human qualities, he has profoundly transformed the Company and equipped it to face the challenges of the 21st century, in keeping with L’Oréal’s guiding principles. Under his influence, the Group has significantly reinforced its position as a global beauty leader and accelerated its value creation dynamic. In 15 years, L’Oréal has increased its presence and its leadership in the world’s most dynamic markets, particularly in Asia. Mr Agon has also positioned the Company at the forefront of digital and e-commerce. In the belief that financial and non-financial performance are inextricably linked, he has mobilised all stakeholders in the Company around his ambition to develop these two areas of excellence. The Board of Directors expressed its gratitude for having made L’Oréal a financial high performer and an exemplary company in environmental, social, ethical and societal terms.
The Board of Directors is happy to be able to count on Mr Agon as Chairman to tackle the challenges L’Oréal faces going forward. It is especially delighted that the solid, close relationship of trust established with him will continue in the future.

The Board welcomes the appointment of Mr Nicolas Hieronimus who, on 1st May, will become L’Oréal’s sixth Chief Executive Officer since its founding in 1909. It underlined the experience, competence and remarkable leadership qualities of Mr Hieronimus. The Board of Directors will be able to rely on his expertise of the cosmetics market and his intimate knowledge of L’Oréal acquired during a 34-year career with the Group, as well as his vision of the future of beauty to implement the strategic guidelines of the coming years. The Board is convinced that Mr Hieronimus will be able to take advantage of all the opportunities offered by a fast-changing world to adapt the Group and reinvent it in keeping with its values, commitments and purpose (raison d’être) : “Create the beauty that moves the world”. With the full support of the Company’s 85,000 employees, he will lead the Group towards new and far-reaching success. The Board expressed its overwhelming trust in and support for Mr Hieronimus in his new role.