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Investor Presentation


Presentation by Jean-Paul Agon, Chairman and CEO, at the Barclays Global Consumer Staples Conference

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30  July 2019

2019 Half-Year Sales and Results

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Frequently Asked Questions

Answers to the most frequently asked questions can be found online.

Questions and Answers

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.

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.

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

Françoise Bettencourt Meyers

Paul Bulcke

Jean-Pierre Meyers

Ana Sofia Amaral

Sophie Bellon

Patrice Caine

Fabienne Dulac

Belén Garijo

Béatrice Guillaume-Grabisch

Bernard Kasriel

Georges Liarokapis

Jean-Victor Meyers

Virginie Morgon

Eileen Naughton

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
Patrice Caine
Fabienne Dulac
Belén Garijo
Béatrice Guillaume-Grabisch 2020
Bernard Kasriel
Georges Liarokapis Employee director 2022
Jean-Victor Meyers 2020
Virginie Morgon
Eileen Naughton

2018 Annual Report

Registration Document

2018 Registration Document