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 30 June 2020, the Board of Directors of L’Oréal comprises 14 members: the Chairman and Chief Executive Officer, three seats for Françoise Bettencourt Meyers and her family and two for Nestlé, six independent directors: Ms Sophie Bellon, Ms Fabienne Dulac, Ms Belén Garijo, Ms Ilham Kadri, Ms Virginie Morgon, Mr Patrice Caine, 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.
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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.
At 30 June 2020, L'Oréal's Board of Directors includes seven different nationalities, 58% 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 30 June 2020
Jean-Paul Agon
Jean-Paul Agon
Chairman and Chief Executive Officer
Chairman of the Strategy and Sustainable Development Committee.
Age: 64. 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. A Director of L’Oréal since 2006, he is also the Chairman of the Strategy and Sustainable Development Committee. Jean-Paul Agon is also the Chairman of the L’Oréal Corporate Foundation and Director of Air Liquide.
Françoise Bettencourt Meyers
Françoise Bettencourt Meyers
Vice-Chairwoman of the Board of Directors
Member of the Strategy and Sustainable Development Committee
Member of the Appointments and Governance Committee
Member of the Human Resources and Remuneration Committee
Age: 67. 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 and a member of the Strategy and Sustainable Development Committee since 2012.
Paul Bulcke
Paul Bulcke
Vice-Chairman of the Board of Directors
Member of the Strategy and Sustainable Development Committee
Member of the Appointments and Governance Committee
Member of the Human Resources and Remuneration Committee
Age: 66. Paul Bulcke, of Belgian and Swiss nationality, is the Chairman of the Board of Directors of Nestlé. Paul Bulcke was a Director at L’Oréal from 2012 to June 2014 and has been back in that position since 2017. Paul Bulcke is the Vice-Chairman of the Board of Directors, and is a member of the Strategy and Sustainable Development Committee, the Appointments and Governance Committee, and the Human Resources and Remuneration Committee. He is also a Director of Roche Holding (Switzerland).
Ana Sofia Amaral
Member of the Human Resources and Remuneration Committee.
Age: 55. Ana Sofia Amaral, of Portuguese nationality, is Scientific and Technical Affairs Director for L’Oréal Portugal. Ana Sofia Amaral was appointed in 2014 by L’Oréal’s Instance Européenne de Dialogue Social (European Works Council) as a Director representing the employees; her term of office was then renewed for a period of four years in 2018. She is a member of the Human Resources and Remuneration Committee.
Sophie Bellon
Sophie Bellon
Chairwoman of the Appointments and Governance Committee
Chairwoman of the Human Resources and Remuneration Committee
Member of the Audit Committee
Age: 59. Sophie Bellon is Chairwoman of the Board of Directors of Sodexo. After a career in finance in the United States, she joined Sodexo in 1994, where she held a variety of positions, including Manager for the Business Division in France, then as R&D and Innovation Strategy Manager. Sophie Bellon has been a Director of L’Oréal since 2015. She is the Chairwoman of the Appointments and Governance Committee, the Human Resources and Remuneration Committee, and a member of the Audit Committee.
Patrice Caine
Patrice Caine
Member of the Strategy and Sustainable Development Committee
Member of the Appointments and Governance Committee
Age: 51. 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 April 2018, and is a member of the Appointments and Governance Committee.
Fabienne Dulac
Fabienne Dulac
Member of the Audit Committee
Member of the Human Resources and Remuneration Committee
Age: 53. 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, communications and digital. She is also a Director of Orange Bank and Willa (an incubator dedicated to female entrepreneurship). She has been a Director of L’Oréal since 2019 and is a member of the Audit Committee.
Belén Garijo
Member of the Human Resources and Remuneration Committee
Age: 60. Belén Garijo, of Spanish nationality, is Chairwoman and Chief Executive Officer of Merck Healthcare, a company bringing together the pharmaceutical businesses of German group Merck, and a member of the Merck group’s Executive Committee. 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: 56. Béatrice Guillaume-Grabisch has been since 2019 Executive Vice-President Human Resources and Business Services of the Nestlé Group, which she joined in 2013. She previously served as Chief Executive Officer of Nestlé Germany, after a career in a variety of consumer goods corporations (Colgate-Palmolive, Beiersdorf, Johnson & Johnson, L’Oréal and Coca-Cola). Béatrice Guillaume-Grabisch has been a Director at L’Oréal since 2016 and is a member of the Audit Committee.
Ilham Kadri
Age: 52. Ilham Kadri, of French and Moroccan nationality, is Chairwoman of the Executive Committee and CEO of Solvay, which she joined in March 2019. She had been CEO and Chairwoman of the American company Diversey since 2013. Ms Kadri has international experience acquired in leading industrial companies (Shell, UCB, Dow, Sealed Air…) where she performed roles in research and development, sales, marketing, strategy, business management and digital technology. Ilham Kadri has been a Director of L’Oréal since 30 June 2020. She is also a Director of A.O. Smith Corporation (USA).
Georges Liarokapis
Member of the Audit Committee.
Age: 58. Georges Liarokapis, of French and Greek nationality, is Coordinator of Sustainability for L’Oréal Western Europe. Mr Liarokapis was appointed by the CFECGC union as a Director representing the employees in 2014; his term of office was renewed for a period of four years in 2018. He is a member of the Audit Committee.
Jean-Victor Meyers
Jean-Victor Meyers
Member of the Strategy and Sustainable Development Committee
Member of the Audit Committee
Age: 34. Jean-Victor Meyers has been a member of the Supervisory Board of the family-owned holding company Téthys since January 2011, and is a member of the Supervisory Committee of the investment subsidiary Téthys Invest and Chairman of the Exemplaire and Constantine Capital companies. Jean-Victor Meyers has been a Director of L’Oréal since 2012 and is a member of the Audit Committee.
Nicolas Meyers
Age: 33. A member of the Supervisory Board of the family-owned holding company Téthys since 2011, a member of the Supervisory Committee of the Investment subsidiary Téthys Invest since 2016, and a member of the Board of Directors of the Bettencourt Schueller Foundation since 2012. Nicolas Meyers has been a Director of L’Oréal since 30 June 2020.
Virginie Morgon
Chairwoman of the Audit Committee
Age: 51. Virginie Morgon is Chairwoman of the Executive 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 Human Rights Watch. Virginie Morgon has been a Director of L’Oréal since 2013 and is the Chairwoman of the Audit Committee.
Summary table
| Board Committees | ||||||
|---|---|---|---|---|---|---|
| Independence | Expiry date of current tenure | Strategy & Sustainable Development | Audit | Appointments & Governance | HR & Remuneration | |
| Jean-Paul Agon | 2022 | Chairman / Chairwoman | ||||
| Françoise Bettencourt Meyers | 2021 | Member | Member | Member | ||
| Paul Bulcke | 2021 | Member | Member | Member | ||
| Ana Sofia Amaral | Employee director | 2022 | Member | |||
| Sophie Bellon | Independence | 2023 | Member | Chairman / Chairwoman | Chairman / Chairwoman | |
| Patrice Caine | Independence | 2022 | Member | Member | ||
| Fabienne Dulac | Independence | 2023 | Member | Member | ||
| Belén Garijo | Independence | 2022 | Member | |||
| Béatrice Guillaume-Grabisch | 2024 | Member | ||||
| Ilham Kadri | Independence | 2024 | ||||
| Georges Liarokapis | Employee director | 2022 | Member | |||
| Jean-Victor Meyers | 2024 | Member | Member | |||
| Nicolas Meyers | 2024 | |||||
| Virginie Morgon | Independence | 2021 | Chairman / Chairwoman | |||
