Yesterday, L’Oréal USA has announced Damien Favre as the new president of its Dermatological Beauty division, marking another significant shift in the company’s leadership. Favre will oversee major brands such as CeraVe, La Roche-Posay, SkinCeuticals, and SkinBetter Science across North America.
Favre transitions into the role after leading the division in Latin America, succeeding Christina Fair, who recently moved to head the Consumer Products Division following Nathalie Gerschtein’s departure. Favre brings nearly two decades of experience at L’Oréal, having started in 2005 on the L’Oréal Paris marketing team in France.
“Damien Favre’s impressive track record of driving growth, building brands, navigating complex market dynamics, and fostering a culture of high performance make him ideally positioned to lead L’Oréal Dermatological Beauty in North America as the division continues to evolve,” said David Greenberg, CEO of L’Oréal USA and president of North America. “Damien’s dedication to driving innovation will undoubtedly fuel the division to continue to deliver dermatological solutions that consumers need.”
Favre’s appointment follows the retirement of Carol Hamilton, former president of U.S. acquisitions, and the subsequent promotion of Ali Goldstein, previously U.S. president of L’Oréal Paris, to Hamilton’s role.
The leadership changes come as L’Oréal USA navigates a slowing sales environment. In its most recent quarter, North American sales grew by just 1.4 percent. The mass market sector, particularly in makeup—where brands like Maybelline New York and L’Oréal Paris are key players—has seen declines, with the category dipping 3 percent in 2024, according to Circana data.
