Composition of the Board of Directors
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 18 April 2019, the Board of Directors of L’Oréal comprises 15 members: the Chairman and Chief Executive Officer, five Directors appointed by the main shareholders, three seats for Françoise Bettencourt Meyers and her family and two for Nestlé (the two Vice-Chairmen of the Board being chosen from among these members), seven independent directors: Ms Sophie Bellon, Ms Fabienne Dulac, Ms Belén Garijo, Ms Virginie Morgon, Ms Eileen Naughton, Mr Patrice Caine and Mr Bernard Kasriel, and two employee members: Mr Georges Liarokapis and Ms Ana Sofia Amaral.
An elected representative of the Central Works Council of L'Oréal, Mr Thierry Magontier, also attends the Board Meetings, with an advisory vote.
EXPERIENCED DIRECTORS WHO COMPLEMENT ONE ANOTHER
L’Oréal’s Directors come from different backgrounds. They complement one another due to their different professional experience, 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.
Gender parity on the Board of Directors
At 18 April 2019, out of a total of 13 Directors (excluding the 2 Directors representing the employees), seven women have seats on L’Oréal’s Board of Directors, representing a proportion of female Directors of 54%.
The composition of the Board is in compliance with French law which requires by 2017 a minimum proportion of 40% of Directors of each gender.
Self-evaluation by the board of directors
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.
Read the summary of the evaluation of the modus operandi of the Board in 2018 (pages 77 and 78 of the 2018 Registration Document).The Board of Directors at 18 April 2019
Jean-Paul Agon
Jean-Paul Agon
Chairman of the Strategy and Sustainable Development Committee.
Age: 62. Chairman and CEO of L’Oréal, Board member since 2006, term of office renewed in 2018. Air Liquide Board member.
Françoise Bettencourt Meyers
Françoise Bettencourt Meyers
Member of the Strategy and Sustainable Development Committee.
Age: 65. Daughter of Liliane Bettencourt, daughter of Eugène Schueller, the founder of L’Oréal. L’Oréal Board member since 1997, term of office renewed in 2017. Chairwoman of the family-owned holding company Téthys. Chairwoman of the Bettencourt Schueller Foundation.
Paul Bulcke
Paul Bulcke
Member of the Strategy and Sustainable Development Committee.
Member of the Nominations and Governance Committee.
Member of the Human Resources and Remuneration Committee.
Age : 64. Belgian and Swiss. L’Oréal Board member since April 2017 and Vice President of the Board of Directors. Chairman of the Board of Directors of Nestlé. Board member of Roche Holding in Switzerland.
Jean-Pierre Meyers
Jean-Pierre Meyers
Member of the Strategy and Sustainable Development Committee.
Member of the Nominations and Governance Committee.
Member of the Human Resources and Remuneration Committee.
Age: 70. L’Oréal Board member since 1987, term of office renewed in 2016 and Vice-Chairman of the Board of Directors. Vice-Chairman of the Supervisory Board and Chief Executive Officer of the family-owned company Téthys.
Ana Sofia Amaral
Ana Sofia Amaral
Member of the Human Resources and Remuneration Committee.
Age: 53. Portuguese. L’Oréal Board member since July 2014, term of office renewed in 2018. Scientific and Technical Affairs Director for L’Oréal Portugal.
Sophie Bellon
Sophie Bellon
Chairwoman of the Nominations and Governance Committee.
Chairwoman of the Human Resources and Remuneration Committee.
Member of the Audit Committee.
Age: 57. L’Oréal Board member since 2015, term of office renewed in 2019. Chairwoman of the Board of Directors at Sodexo.
Patrice Caine
Patrice Caine
Member of the Nominations and Governance Committee.
Age: 49. L’Oréal Board member since 17 April 2018. Chairman and CEO of the Thales group, which he joined in 2002 after having held different senior public service positions.
Fabienne Dulac
Fabienne Dulac
Member of the Audit Committee.
Age: 51. L’Oréal Board member since April 2019. Deputy Chief Executive Officer of the Orange group and Chief Executive Officer of Orange France.
Belén Garijo
Belén Garijo
Member of the Human Resources and Remuneration Committee.
Age: 58. Spanish. L’Oréal Board member since April 2014, term of office renewed in 2018. Chairwoman and CEO of Merck Healthcare, pharmaceutical subsidiary of the German group Merck. Board member of BBVA (Spain).
Béatrice Guillaume-Grabisch
Béatrice Guillaume-Grabisch
Member of the Audit Committee.
Age: 54. L’Oréal Board member since April, 2016. Head of Human Resources & Business Services of Nestlé Group.
Bernard Kasriel
Bernard Kasriel
Member of the Strategy and Sustainable Development Committee.
Age: 72. L’Oréal Board member since 2004, term of office renewed in 2016. Former CEO of Lafarge.
Georges Liarokapis
Georges Liarokapis
Member of the Audit Committee.
Age: 56. French and Greek. L’Oréal Board member since July 2014, term of office renewed in 2018. Coordinator of Sustainability at L’Oréal for the Western Europe Zone.
Jean-Victor Meyers
Jean-Victor Meyers
Member of the Audit Committee.
Age: 32. Son of Mrs. Françoise Bettencourt Meyers and Mr. Jean-Pierre Meyers. L’Oréal Board member since 2012, term of office renewed in 2016. Member of the Supervisory Committee of Téthys.
Virginie Morgon
Virginie Morgon
Chairman of the Audit Committee.
Age: 49. L’Oréal Board member since 2013, term of office renewed in 2017. CEO of Eurazeo, which she joined in 2008 after 16 years at Lazard. Board Member of Moncler (Italy).
Eileen Naughton
Eileen Naughton
Member of the Human Resources and Remuneration Committee.
Age: 61. American. L’Oréal Board member since 2016. Vice-President, People Operations within the Google group, which she joined in 2006 after several positions at Time Warner, including the President of Time Group from 2002 to 2005.
Summary table
Committee Chairman/Chairwoman
Committee Member
Independence within the meaning of the criteria of the AFEP-MEDEF Code as assessed by the Board of Directors.
| Board Committees | |||||||
|---|---|---|---|---|---|---|---|
| Independence | Expiry date of current tenure | Strategy & Sustainable Development | Audit | Appointments & Governance | HR & Remuneration | ||
| Jean-Paul Agon | 2022 | ||||||
| Françoise Bettencourt Meyers | 2021 | ||||||
| Paul Bulcke | 2021 | ||||||
| Jean-Pierre Meyers | 2020 | ||||||
| Ana Sofia Amaral | Employee director | 2022 | |||||
| Sophie Bellon | 2019 | ||||||
| Patrice Caine | 2022 | ||||||
| Fabienne Dulac | 2023 | ||||||
| Belén Garijo | 2022 | ||||||
| Béatrice Guillaume-Grabisch | 2020 | ||||||
| Bernard Kasriel | 2020 | ||||||
| Georges Liarokapis | Employee director | 2022 | |||||
| Jean-Victor Meyers | 2020 | ||||||
| Virginie Morgon | 2021 | ||||||
| Eileen Naughton | 2020 | ||||||
2018 Annual Report
Registration Document
2018 Registration Document