| THE BOARD AND STRATEGY |
- Good anticipation of medium- and long-term planning.
- Holding a Strategic Seminar at least once a year is very useful.
- Topics discussed at the Strategic Seminar in June 2024, which were deemed very interesting.
- Acquisition projects well presented and discussed, in line with the strategy.
- Good analysis of the main risks.
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- Good anticipation of medium- and long-term planning.
- Holding a Strategic Seminar at least once a year is very useful.
- Topics discussed at the Strategic Seminar in June 2024, which were deemed very interesting.
- Acquisition projects well presented and discussed, in line with the strategy.
- Good analysis of the main risks.
Areas for improvement/Action to be taken/Issues to be addressed
- Inclusion of proposed topics for the next strategic seminar.
- Requests for an additional Board meeting to allow more time to review the strategy in depth.
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| BOARD COMMITTEES |
- Strategy and Sustainability Committee: works very well with good discussions; presentations on acquisition projects very well structured; regular CSR overviews considered important.
- Audit Committee: good coverage of CSR reporting issues; particular attention paid to risk issues; highly relevant business approach to the issues dealt with.
- Human Resources and Remuneration Committee: meetings well prepared, enabling in-depth discussions; work well planned ahead of meetings.
- Nominations and Governance Committee: very good planning in the selection of new Directors.
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- Strategy and Sustainability Committee: works very well with good discussions; presentations on acquisition projects very well structured; regular CSR overviews considered important.
- Audit Committee: good coverage of CSR reporting issues; particular attention paid to risk issues; highly relevant business approach to the issues dealt with.
- Human Resources and Remuneration Committee: meetings well prepared, enabling in-depth discussions; work well planned ahead of meetings.
- Nominations and Governance Committee: very good planning in the selection of new Directors.
Areas for improvement/Action to be taken/Issues to be addressed Continued focus on cross-cutting sustainability issues. |
| GOVERNANCE ISSUES |
- How General Management operates:
- Separation of the roles of Chairman and Chief Executive Officer, which is working very well.
- Complementary relationship between the Chairman and the Chief Executive Officer is valued.
- Attentive and receptive Chairman, who leads discussions in a very open way, with excellent knowledge of the subject matter, which is a real added value.
- Transparent communication with the Chief Executive Officer, enabling in-depth strategic discussions in a climate of trust.
- Balance of power ensured (presence and number of major shareholders; profile of independent Directors; freedom of expression).
- Lead Director: not relevant to L’Oréal given the current composition and modus operandi of the Board.
- "Climate" Director: not recommended, as CSR is the responsibility of all Directors.
- Executive sessions: running well.
- Conflicts of interest: well managed by the rules in force (non-participation in debates and decisions, annual declaration of independence, procedure for reviewing current agreements).
- Contact with investors and proxy advisors: current procedures for meetings with L’Oréal teams are deemed satisfactory.
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- How General Management operates:
- Separation of the roles of Chairman and Chief Executive Officer, which is working very well.
- Complementary relationship between the Chairman and the Chief Executive Officer is valued.
- Attentive and receptive Chairman, who leads discussions in a very open way, with excellent knowledge of the subject matter, which is a real added value.
- Transparent communication with the Chief Executive Officer, enabling in-depth strategic discussions in a climate of trust.
- Balance of power ensured (presence and number of major shareholders; profile of independent Directors; freedom of expression).
- Lead Director: not relevant to L’Oréal given the current composition and modus operandi of the Board.
- "Climate" Director: not recommended, as CSR is the responsibility of all Directors.
- Executive sessions: running well.
- Conflicts of interest: well managed by the rules in force (non-participation in debates and decisions, annual declaration of independence, procedure for reviewing current agreements).
- Contact with investors and proxy advisors: current procedures for meetings with L’Oréal teams are deemed satisfactory.
Areas for improvement/Action to be taken/Issues to be addressed |
