2024 universal registration document

2. Corporate governance

Previous panel (unchanged since 2019)
  Pharmaceutical FMCG Luxury
3 French companies   Danone Kering LVMH
5 European companies (excl. France) GSK Beiersdorf Reckitt Benckiser Unilever Henkel  
5 US companies   Colgate PalmoliveKimberley Clark Kenvue (Johnson & Johnson) Procter & Gamble Estée Lauder
Total13 companies 1 9 3
Adjusted panel (2025)
  Pharmaceutical FMCG Luxury
3 French companies     KeringLVMH

Essilor Luxottica

5 European companies (excl. France) GSK

Novartis

BeiersdorfUnilever Henkel  
5 US companies   Colgate Palmolive

Pepsico

Kenvue (Johnson & Johnson) Procter & Gamble
Estée Lauder
Total 13 companies 2 7 4

Previous panel (median)

Sales*

€30,100m

Number of employees*

88,800

Market capitalisation**

€87,600m

L’Oréal

Sales*

€41,183m

Number of employees*

94,605

Market capitalisation**

€205,180m

Adjusted panel (median)

Sales*

€34,898m

Number of employees*

88,843

Market capitalisation**

€95,490m

Companies exiting the 2025 Panel

Companies entering the 2025 Panel

Remuneration that is aligned with the best interests of the Company and directly linked to its strategy

The Board of Directors has aligned the remuneration policy for the executive corporate officer in line with the interests of the Company in order to ensure its long-term sustainability and development, taking into consideration the social and environmental challenges of its business activity and L'Oréal's Sense of Purpose.

a) Close links with strategy

The remuneration policy applied to the executive corporate officer is directly linked to the Group’s strategy. It supports its development model. It promotes harmonious, regular, durable growth, both over the short and long term. The Board of Directors strives constantly to encourage General Management to maximise performance for each financial year and to ensure that this performance is repeated and regular year after year. This is in line with L’Oréal’s objective of economic and societal excellence.