Highlights of the 2018 Annual General Meeting
Close to 1,900 shareholders were present at the Annual General Meeting on 17 April 2018.
Beauty has never looked this good
The L'Oréal Annual General Meeting was held at the Palais des Congrès in Paris on 17 April. As shareholders arrived, they were welcomed with informational events focusing on the Digital Annual Report, the L’Oréal Foundation’s For Women in Science programme celebrating its 20th anniversary this year, and the holding of registered shares. These aspects of L’Oréal were brought to shareholders’ attention before they took part in the AGM.
After a tribute to Mrs Liliane Bettencourt, Chairman and Chief Executive Officer Jean-Paul Agon invited Christian Mulliez, Executive Vice-President and Chief Financial Officer, to present the results for 2017. The Chairman then shared the Group's economic and social performances with shareholders, and confirmed his confidence in both the market and the company for the coming year.
Beauty in the Middle Kingdom
Stéphane Rinderknech, L'Oréal China Managing Director and member of the Executive Committee, was the next to take the floor, to present the advances made by the Group in China. “When L'Oréal moved into China twenty years ago, the Group's goal was to put a lipstick into the hand of each Chinese woman”, he explained. In China, the L'Oréal group is at the cutting edge, drawing on its omnichannel distribution strategy and powerful brand portfolio, in a country where e-commerce is strategically vital. Stéphane Rinderknech confirmed that he was extremely confident about L'Oréal’s future in China.
Two new directors
Shareholders were provided with a presentation on the Group's Governance and a report on the work of the Statutory Auditors, followed by the presentation of the resolutions to be put to the vote.
All the resolutions were adopted by a large majority, including in particular:
- The appointment as Director of Mr Patrice Caine, Chairman and CEO of the Thales group, and of Mr Axel Dumas, Executive Chairman of the Hermès International group.
- The renewal of the tenure as director of Mr Jean-Paul Agon and of Mrs Belén Garijo
- The approval of a dividend of 3.55 euros, up by +7.6%
- A €500 million share buyback programme.
The Annual General Meeting ended after the vote and the results of the resolutions.
Watch highlights of the event, including:
A special AGM edition of the Letter to Shareholders will soon be available on the website www.loreal-finance.com.