The Board of Directors

FR
EN
Composition of the Board of Directors

The Board of Directors of L’Oréal carries out its work on a collective basis, in accordance with ethical principles and in compliance with the legal provisions, regulations and recommendations.

At 20 April 2017, the Board of Directors of L’Oréal comprises 15 members: the Chairman and Chief Executive Officer, five Directors appointed by the main shareholders, three of whom are from the Bettencourt Meyers family and two appointed by Nestlé (the two Vice-Chairmen of the Board being chosen from among these members), seven independent directors: Mrs Sophie Bellon, Mrs Belén Garijo, Mrs Virginie Morgon, Mrs Eileen Naughton, Mr Charles-Henri Filippi, Mr Xavier Fontanet and Mr Bernard Kasriel, and two employee members: Mr Georges Liarokapis and Mrs Ana Sofia Amaral.

An elected representative of the Central Works Council of L'Oréal, Mr Thierry Magontier, also attends the Board Meetings, with an advisory vote.

Experienced Directors who complement one another

L’Oréal’s Directors come from different backgrounds, they complement one another due to their different professional experience, their skills and their nationalities. They have good knowledge of the Company. The Directors are present, active and closely involved. These are all assets which contribute to the quality of the Board’s deliberations in the context of the decisions that the Board is called on to make.

Gender parity on the board of directors

At 20 April 2017, out of a total of 13 Directors (excluding the 2 Directors representing the employees), six women have seats on L’Oréal’s Board of Directors, representing a proportion of female Directors of 46%.

The composition of the Board in compliance with French law which requires by 2017 a minimum proportion of 40% of Directors of each gender.

Self-evaluation by the board of directors

Every year, the Board carries out the formal evaluation provided for by the AFEP-MEDEF Code of its composition, its organisation and its modus operandi, in particular in order to verify that, under these conditions, the agenda for its work duly covers the scope of its assignments, that important questions have been appropriately prepared for and discussed and to assess the contribution made by each member to the Board’s work.

This evaluation is carried out within the framework of the AFEP-MEDEF Code, to which the Board refers and market recommendations like those of the AMF. On the basis of the summary of prior individual interviews between the Director and the Secretary of the Board of Directors, such interviews being conducted on the basis of a guide which sets out the principles provided for in the code and the recommendations, the Board considers the avenues of progress that still remain open and, at the end of the discussion that takes place, adopts the improvement measures that it considers appropriate.

The Directors again exercised their complete freedom of judgment in 2016. This freedom of judgment allowed them to participate, in total independence, in the work and collective decisions of the Board, and, where applicable, in conducting preparatory work and making proposals through the Board Committees.

Read the summary of the evaluation of the modus operandi of the Board in 2016 (pages 69 and 70 of the 2016 Registration Document).

The Board of Directors at 20 April 2017

  • Jean-Paul Agon

    Chairman of the Strategy and Sustainable Development Committee.

    Age: 60. Chairman and CEO of L’Oréal, Board member since 2006, term of office renewed in 2014. Air Liquide Board member.

  • Françoise Bettencourt Meyers

    Member of the Strategy and Sustainable Development Committee.

    Age: 63. Daughter of Mrs. Bettencourt. L’Oréal Board member since 1997, term of office renewed in 2017. Chairwoman of the family-owned holding company Téthys. Chairwoman of the Bettencourt Schueller Foundation.

  • Paul Bulcke

    Vice-Président
    Member of the Strategy and Sustainable Development Committee.
    Member of the Nominations and Governance Committee.
    Member of the Human Resources and Remuneration Committee.

    Age : 62. Belgian. L’Oréal Board member since 20 April 2017 and Vice President of the Board of Directors. Chairman of the Board of Directors of Nestlé. Board member of Roche Holding in Switzerland.

  • Jean-Pierre Meyers

    Member of the Strategy and Sustainable Development Committee.
    Member of the Nominations and Governance Committee.
    Member of the Human Resources and Remuneration Committee.

    Age: 68. L’Oréal Board member since 1987, term of office renewed in 2016 and Vice-Chairman of the Board of Directors. Vice-Chairman of the Supervisory Board and Chief Executive Officer of the family-owned company Téthys. Nestlé SA (Switzerland) Board member.

  • Ana Sofia Amaral

    Member of the Human Resources and Remuneration Committee.

    Age: 51. Portuguese. L’Oréal Board member since July 15th 2014. Scientific and Technical Affairs Director for L’Oréal Portugal.

  • Sophie Bellon

    Chairman of the Nominations and Governance Committee.
    Member of the Audit Committee.

    Age: 55. L’Oréal Board member since 2015. Charmain of Sodexo's board and in charge of the Research, Development and Innovation Strategy of Sodexo.

  • Charles-Henri Filippi

    Chairman of the Human Resources and Remuneration Committee.
    Member of the Audit Committee.
    Member of the Nominations and Governance Committee.

    Age: 64. L’Oréal Board member since 2007, term of office renewed in 2011. Former Chairman and CEO of HSBC France. Censor of Nexity. Chairman of Citigroup for France. Orange Board member.

  • Xavier Fontanet

    Member of the Strategy and Sustainable Development Committee.

    Age: 68. L’Oréal Board member since 2002, term of office renewed in 2014. Former Chairman and CEO of Essilor. Member of the Supervisory Board of Schneider Electric.

  • Belén Garijo

    Member of the Human Resources and Remuneration Committee.

    Age: 56. Spanish. L’Oréal Board member since April 2014. President and CEO of Merck Serono, pharmaceutical subsidiary of the German group Merck. Board member of BBVA (Spain).

  • Béatrice Guillaume-Grabisch

    Member of the Audit Committee.

    Age: 52. L’Oréal Board member since April 20, 2016. General Manager of Nestlé Germany.

  • Bernard Kasriel

    Member of the Strategy and Sustainable Development Committee.

    Age: 70. L’Oréal Board member since 2004, term of office renewed in 2016. Former CEO of Lafarge. Board member of Arkema and of Nucor (United States).

  • Georges Liarokapis

    Member of the Audit Committee.

    Age: 54. French and Greek. L’Oréal Board member since July 15th 2014. Coordinator of Sustainability for L’Oréal Western Europe.

  • Jean-Victor Meyers

    Member of the Audit Committee.

    Age: 30. Grandson of Mrs. Liliane Bettencourt. L’Oréal Board member since 2012, term of office renewed in 2016. Member of the Supervisory Board of Téthys.

  • Virginie Morgon

    Chairman of the Audit Committee.

    Age: 47. L’Oréal Board member since 2013, term of office renewed in 2017. With Eurazeo since 2008, one of the first investment companies to be listed in Europe. Member of the Executive Board and Chief Investment Officer. Board Member of Vivendi and Moncler (Italy).

  • Eileen Naughton

    Member of the human resources and remuneration committee.

    Age: 59. L’Oréal Board member since April 20, 2016. Vice President and Managing Director, Google UK and Ireland. Joined the Google Group in 2005 after several positions in Time Warner, including the President of Time Group from 2002 to 2005.

Summary table

  Board Committees
   
Independence Expiry date of current tenure Strategy & Sustainable Development Audit Appointments & Governance HR & Remuneration
Jean-Paul AGON   2018      
Françoise
BETTENCOURT MEYERS
  2021      
Paul
BULCKE
  2021  
Jean-Pierre MEYERS   2020  
Ana Sofia
AMARAL
Employee director 2018      
Sophie BELLON 2019  
Charles-Henri
FILIPPI
2019  
Xavier
FONTANET
2018      
Belén GARIJO 2018      
Béatrice
GUILLAUME-
GRABISCH
  2020      
Bernard
KASRIEL
2020      
Georges
LIAROKAPIS
Employee director 2018      
Jean-Victor MEYERS   2020      
Virginie
MORGON
2021      
Eileen
NAUGHTON
2020      

Independence within the meaning of the criteria of the AFEP-MEDEF Code as assessed by the Board of Directors.
Committee Chairman/Chairwoman
Committee Member

Photo credits: Stéphane de Bourgies