On September 14th, L’Oréal announced a series of personnel changes and appointments on its official website. Among them, Laurence Ma, the General Manager of L’Oréal’s Luxury Division in China, has been appointed as Deputy Chief Executive Officer L’Oréal China, a newly created position responsible for overseeing L’Oréal’s business in China. The appointment will take effect in February next year.
Previously serving as the CEO of L’Oréal China and currently the President of L’Oréal North Asia, Fabrice Megarbane will succeed Frédéric Rozé as L’Oréal’s Chief Growth Officer, while Frédéric Rozé, who has been with the company for 38 years, plans to retire in early next year. As the new Chief Growth Officer, Megarbane will be responsible for accelerating growth, leading transformation projects, and driving the development of L’Oréal’s various regions.
Nicolas Hieronimus, CEO of L’Oréal Group, stated, “Fabrice is an outstanding human leader in the truest sense of the word. Under his leadership, not only has our business in China doubled in sales to record market share while sustaining an ambitious sustainability agenda, we have also been able to increase our reputation as an employer and forge closer ties with key local stakeholders. In his new role, he will be able draw on the vast experience he has gained in North Asia to accelerate other regions, drive our e-commerce growth and lead the Group’s transformation programs.”
Vincent Boinay will succeed Megarbane as the President of L’Oréal North Asia and CEO of L’Oréal China. L’Oréal stated that he will relocate to Shanghai in the near future and assume full responsibilities in early February 2024. EmmanueGoulin will take over L’Oréal’s Global Travel Retail Division.
Furthermore, in light of the increasingly complex Chinese market, Laurence Ma, the current General Manager of L’Oréal’s Luxury Division in China, has been appointed as the Deputy CEO of L’Oréal China, overseeing L’Oréal’s business in China. It is reported that Ma will continue to manage L’Oréal’s Luxury Division in China and will also lead three other divisions.