At 31 December 2024, the Board of Directors comprised 16 members.
Alongside the Chairman of the Board and the Chief Executive Officer(1), the composition of the Board is balanced with seven independent Directors, three Directors from the Bettencourt Meyers family (which holds 34.76% of the share capital), two Directors linked to Nestlé (which holds 20.14% of the share capital)(2) and two Directors representing the employees.
As is the case each year, the Board considered the desirable balance of its composition, including of its Committees (gender balance, ages, qualifications and professional experience, nationalities and international profiles).
The Directors of L’Oréal come from different backgrounds. They complement one another due to their different professional experience, their skills and their international exposure.
The Board is attentive to maintaining a balance between Directors with historical knowledge of the Company and Directors with a more external perspective who have joined the Board more recently.
SUMMARY TABLE OF THE DIVERSITY POLICY APPLIED TO THE BOARD OF DIRECTORS
| Criteria | Policy and objectives | Means of implementation and outcomes achieved in 2024 |
|---|---|---|
| Age and seniority of Directors | Age and seniority of Directors Policy and objectives Maintaining generational balance beyond compliance with the Internal Rules:
Alongside balance in terms of age, also maintaining balance in terms of seniority on the Board. |
Age and seniority of Directors Means of implementation and outcomes achieved in 2024 Directors are aged between 36 and 71, with an average age of 58.5. The Board considers that its composition is balanced and includes Directors with long-standing knowledge of L’Oréal and Directors who have joined more recently. |
| Gender balance Representation of men and women | Gender balance Representation of men and women Policy and objectives Compliance with the Copé-Zimmermann law, which sets a gender quota of a minimum of 40% of Board members that are the same gender.(3) Desire to maintain gender balance of around 50% on the Board. Desired gender balance in the Committees. |
Gender balance Representation of men and women Means of implementation and outcomes achieved in 2024 At 31 December 2024, women made up 43% of the Board of Directors, which is higher than the 40% minimum ratio set in the French Commercial Code in order to achieve gender balance on corporate boards. Half of the Committees are chaired by women (Audit Committee and Human Resources and Remuneration Committee). |
| Nationalities International profiles | Nationalities International profiles Policy and objectives Recruitment of international profiles:
|
Nationalities International profiles Means of implementation and outcomes achieved in 2024 The Board has Directors with four different nationalities (Belgian, French, Moroccan, and Swiss). The vast majority of Directors have international careers and responsibilities. Five Directors are based outside France. |
| Qualifications and professional experience | Qualifications and professional experience Policy and objectives Search for complementarity in the experience of Directors. Definition of a base of skills and expertise shared by all Directors. Skills related to L’Oréal’s strategy and development objectives. |
Qualifications and professional experience Means of implementation and outcomes achieved in 2024 The Nominations and Governance Committee has identified a set of skills and expertise, validated by the Board. (See below) |
