Stable governance in a swiftly changing cosmetics market
The composition of the Board of Directors reflects L’Oréal’s unique shareholding structure and guarantees the interests of all its shareholders. Alongside the Chairman and Chief Executive Officer, there are three directors from the Bettencourt Meyers family, two from the Nestlé company, seven independent directors and two directors representing employees.
Governance is more essential than ever in an increasingly VUCA (Volatile, Uncertain, Complex and Ambiguous) world: it is imperative that we can take advantage of multiple perspectives and different kinds of expertise to decipher and understand it, grasp the opportunities and constantly adapt the business to it.
Chairman and Chief Executive Officer
The diversity and complementarity of the directors’ industrial, financial and entrepreneurial expertise equip them to quickly and thoroughly comprehend the development challenges facing L’Oréal, the leader in a globalised and highly competitive cosmetics market in which the need to innovate and adapt is crucial. Most of the directors have experience managing international groups at the highest level. In 2019, the Board welcomed a new independent director, Fabienne Dulac, Chair and Chief Executive Officer of Orange France and Deputy Chief Executive Officer of the Orange Group.
As of 31 December 2019, Board members represented seven different nationalities, with an almost even gender balance (54% women). Three of the four committees are chaired by independent female directors.
The diverse experience and expertise they bring ensures free, in-depth and spontaneous discussions.