The Board of Directors
The Board of Directors
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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 21 April 2022, the Board of Directors of L’Oréal comprises 16 members: the Chairman of the Board, the Chief Executive Officer, three seats for Françoise Bettencourt Meyers and her family and two for Nestlé, seven independent directors: Ms Sophie Bellon, Mr Patrice Caine, Ms Fabienne Dulac, Ms Belén Garijo, Ms Ilham Kadri, Ms Virginie Morgon, Mr Alexandre Ricard, and two directors representing the employees: Mr Thierry Hamel and Mr Benny de Vlieger.
An elected representative of the Central Works Council of L'Oréal, Mr Thierry Magontier, also attends the Board Meetings, with an advisory vote.
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L’Oréal’s Directors come from different backgrounds. They complement one another due to their different professional experiences, 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.
At 21 April 2022, L'Oréal's Board of Directors includes five different nationalities, 50% are female, and 50% are independent Directors.
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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 Board of Directors at 21 April 2022
Jean-Paul Agon
Jean-Paul Agon
Chairman of the Board of Directors
Chairman of the Strategy and Sustainability Committee
Age: 66. Jean-Paul Agon joined the L’Oréal Group in 1978. Following an international career as General Manager of the Consumer Products Division in Greece and of L’Oréal Paris in France, International Managing Director of Biotherm, General Manager of L’Oréal Germany, General Manager of the Asia Zone, Chairman and Chief Executive Officer of L’Oréal USA, Jean-Paul Agon was appointed as Deputy Chief Executive Officer of L’Oréal in 2005, and then Chief Executive Officer in April 2006, and finally Chairman and Chief Executive Officer in 2011. Since 1 May 2021, Jean-Paul Agon has been the Chairman of the Board of Directors without assuming the functions of Chief Executive Officer. A Director of L’Oréal since 2006, he is also the Chairman of the Strategy and Sustainability Committee. Jean-Paul Agon is also the Chairman of the L’Oréal Corporate Foundation.
Nicolas Hieronimus
Chief Executive Officer
Age: 59. Nicolas Hieronimus joined the L’Oréal Group in 1987 and was appointed Marketing Director of the Laboratoires Garnier in 1993. After an international career as General Manager of the Garnier Maybelline Division in the UK, General Manager France then International General Manager of L’Oréal Paris, CEO of L’Oréal Mexico, Nicolas Hieronimus was appointed as the General Manager of the L’Oréal Professional Products Division and joined the Executive Committee in 2008. In 2011, he was appointed President of L’Oréal Luxe, a role that he held until the end of 2018. In 2013, Nicolas Hieronimus became the General Manager of Selective Divisions (Luxury, Active Cosmetics, Professional Products). He was appointed Deputy Chief Executive Officer of L’Oréal in charge of Divisions in May 2017. Nicolas Hieronimus was appointed Chief Executive Officer of L’Oréal on 1 May 2021. He has been a Director of L’Oréal since 2021.
Françoise Bettencourt Meyers
Françoise Bettencourt Meyers
Vice-Chairwoman of the Board of Directors
Member of the Strategy and Sustainability Committee
Member of the Nominations and Governance Committee
Member of the Human Resources and Remuneration Committee
Age: 69. Françoise Bettencourt Meyers, daughter of Liliane Bettencourt and granddaughter of the founder of L’Oréal, Eugène Schueller, has been the Chairwoman of the family-owned holding company Téthys since 31 January 2012, and is the Chairwoman of the Supervisory Board of the investment subsidiary Téthys Invest, Chairwoman of the Bettencourt Schueller Foundation, and Honorary President of the Pour l’Audition Foundation. Françoise Bettencourt Meyers has been a Director of L’Oréal since 1997. Vice-Chairwoman of the Board of Directors since 2020, Françoise Bettencourt Meyers is also a member of the Strategy and Sustainability Committee, the Nominations and Governance Committee and the Human Resources and Remuneration Committee.
Paul Bulcke
Paul Bulcke
Vice-Chairman of the Board of Directors
Member of the Strategy and Sustainability Committee
Member of the Nominations and Governance Committee
Member of the Human Resources and Remuneration Committee
Age: 68. Paul Bulcke, of Belgian and Swiss nationality, has served as the Chairman of the Board of Directors of Nestlé since 2017. After pursuing an international career at the highest level within the Nestlé Group, holding various positions in Europe and Latin America, in 2004 Paul Bulcke was appointed Executive Vice President and Zone Director for zone Americas of Nestlé S.A. before becoming Chief Executive Officer of Nestlé S.A. from 2008 to 2016. Paul Bulcke was a Director of L’Oréal from 2012 to June 2014 and then again since 2017. Vice-President of the Board of Directors, Paul Bulcke is also a member of the Strategy and Sustainability Committee, the Nominations and Governance Committee and the Human Resources and Remuneration Committee.
Sophie Bellon
Sophie Bellon
Chairwoman of the Nominations and Governance Committee
Chairwoman of the Human Resources and Remuneration Committee
Age: 61. Sophie Bellon is Chairwoman of the Board of Directors and CEO of Sodexo. After a career in finance in the United States, she joined Sodexo in 1994, where she held various positions, including as the Chief Executive Officer of the Corporate Services business unit of Sodexo France and as Research, Development and Innovation Strategy Manager of Sodexo. Sophie Bellon has been a Director of L’Oréal since 2015. She is the Chairwoman of the Nominations and Governance Committee, the Human Resources and Remuneration Committee.
Patrice Caine
Patrice Caine
Member of the Strategy and Sustainability Committee
Member of the Nominations and Governance Committee
Age: 53. Patrice Caine has been Chairman and Chief Executive Officer of the Thales Group since December 2014, after holding management positions in various operating units (Aviation and Naval, Communications, Navigation and Identification, Air Systems, Radio-Communication Products, Network and Infrastructure Systems, and Protection Systems) from 2002 to 2013. Patrice Caine has been a Director of L’Oréal since 2018 and is a member of the Strategy and Sustainability Committee and the Nominations and Governance Committee.
Fabienne Dulac
Fabienne Dulac
Member of the Human Resources and Remuneration Committee
Member of the Audit Committee
Age: 55. Fabienne Dulac is Chairwoman and Chief Executive Officer of Orange France and Deputy Chief Executive Officer of the Orange Group, which she joined in 1997. She has held various positions in marketing, business development, communication and digital. Fabienne Dulac joined the Executive Committee of the Orange group in 2015 as Chief Executive Officer of Orange France. She is also a Director of La Française des Jeux and a Director of Willa (an incubator dedicated to female entrepreneurship). Fabienne Dulac has been a Director of L’Oréal since 2019 and is a member of the Audit Committee and the Human Resources and Remuneration Committee.
Belén Garijo
Member of the Human Resources and Remuneration Committee
Age: 62. Belén Garijo, of Spanish nationality, is Chairwoman of the Management Board and Chief Executive Officer of the German Merck group since 1 May 2021. She previously served as Chair and Chief Executive Officer of Merck Healthcare, an entity encompassing all the pharmaceutical activities of the Merck group. Belén Garijo has been a Director of L’Oréal since 2014 and is a member of the Human Resources and Remuneration Committee. She is also a Director of BBVA (Spain).
Béatrice Guillaume-Grabisch
Member of the Audit Committee
Age: 58. Béatrice Guillaume-Grabisch has been Executive Vice-President and Global Head of Human Resources and Business Services of the Nestlé Group, which she joined in 2013. She was formerly Chief Executive Officer of Nestlé Germany after a career in various consumer goods groups (Colgate-Palmolive, Beiersdorf, Johnson & Johnson, L’Oréal, Coca-Cola). Béatrice Guillaume-Grabisch has been a Director of L’Oréal since 2016 and is a member of the Audit Committee.
Ilham Kadri
Member of the Audit Committee
Age: 53. IIlham Kadri, of French and Moroccan nationality, has been Chairwoman of the Executive Committee and CEO of Solvay since March 2019. Ilham Kadri had been CEO and Chairwoman of the American company Diversey since 2013. Ilham Kadri has international experience acquired in leading industrial companies (Shell, UCB, Dow, Sealed Air, etc.) where she performed roles in research and development, sales, marketing, strategy, business management and digital. She is also a director of A.O. Smith Corporation. Ilham Kadri has been a Director of L’Oréal since 2020 and is a member of the Audit Committee.
Jean-Victor Meyers
Member of the Strategy and Sustainability Committee
Age: 36. Jean-Victor Meyers has been a member of the Supervisory Board of the family-owned holding company Téthys since 2011, and is a member of the Supervisory Board of the investment subsidiary Téthys Invest. Jean-Victor Meyers has been a Director of L’Oréal since 2012 and is a member of the Strategy and Sustainability Committee.
Nicolas Meyers
Member of the Audit Committee
Age: 35. Nicolas Meyers has been a member of the Supervisory Board of the family holding company Téthys since 2011, member of the Supervisory Board of the investment subsidiary Téthys Invest since 2016, and Director of the Bettencourt Schueller Foundation since 2012. Nicolas Meyers has been a Director of L’Oréal since 2020. He is a member of the Audit Committee.
Virginie Morgon
Chairwoman of the Audit Committee
Age: 53. Virginie Morgon is Chairwoman of the Management Board of Eurazeo, which she joined in 2008 after working for sixteen years at Lazard and is also Chairwoman of Eurazeo North America Inc. (USA). She is also Co-Chair of the Paris Committee of the Human Rights Watch and Chairwoman of the Board of Directors of the Eurazeo endowment fund. Virginie Morgon has been a Director of L’Oréal since 2013 and is the Chairwoman of the Audit Committee.
Alexandre Ricard
Member of the Strategy and Sustainability Committee
Age: 51. Alexandre Ricard has been Chairman and Chief Executive Officer of Pernod Ricard since February 2015. He joined Pernod Ricard in 2003, after seven years as a strategy consultant at Accenture and as an M&A consultant at Morgan Stanley. In 2004, he was appointed Director of Finance and Administration of Irish Distillers, and then in 2006, Chief Executive Officer of Pernod Ricard Asia Duty Free. In 2008, he was appointed Chairman and Chief Executive Officer of Irish Distillers and joined the Executive Committee of Pernod Ricard. In 2011, he joined the General Management of Pernod Ricard as Deputy Chief Executive Officer in charge of the distribution network. Alexandre Ricard has been a Director of L’Oréal since 2021 and is a member of the Strategy and Sustainability Committee.
Benny de Vlieger
Age: 58. Benny de Vlieger, of Belgian nationality, is a Sales Representative for the Consumer Products Division of L’Oréal in Belgium. In April 2022, Benny de Vlieger was appointed as a Director representing the employees by the Instance Européenne de Dialogue Social/European Works Council (IEDS/EWC) for a period of four years.
Summary table
| Board Committees | ||||||
|---|---|---|---|---|---|---|
| Independence | Expiry date of current tenure | Strategy and Sustainability Development | Audit | Appointments and Governance | HR & Remuneration | |
| Jean-Paul Agon | 2026 | Chairman / Chairwoman | ||||
| Nicolas Hieronimus | 2025 | |||||
| Françoise Bettencourt Meyers | 2025 | Member | Member | Member | ||
| Paul Bulcke | 2025 | Member | Member | Member | ||
| Sophie Bellon | Independence | 2023 | Chairman / Chairwoman | Chairman / Chairwoman | ||
| Patrice Caine | Independence | 2026 | Member | Member | ||
| Fabienne Dulac | Independence | 2023 | Member | Member | ||
| Belén Garijo | Independence | 2026 | Member | |||
| Béatrice Guillaume-Grabisch | 2024 | Member | ||||
| Thierry Hamel | 2026 | |||||
| Ilham Kadri | Independence | 2024 | Member | |||
| Jean-Victor Meyers | 2024 | Member | ||||
| Nicolas Meyers | 2024 | Member | ||||
| Virginie Morgon | Independence | 2025 | Chairman / Chairwoman | |||
| Alexandre Ricard | Independence | 2025 | Member | |||
| Benny de Vlieger | 2026 | |||||
