L’Oréal China to have new CEO in July
From July 1, Fabrice Megarbane, currently general manager of L’Oréal Germany, will be based in Shanghai, where he will take on the role of CEO of L’Oréal China. Megarbane, who joined the international cosmetics giant in 2000, will succeed Stephane Rinderknech. The latter will reportedly take a new position within the group.
Megarbane has a chemical engineering master's degree from the Ecole Nationale Superieure des Industries Chimiques in France. He started with the French group as marketing coordinator. In the course of his career with L’Oréal, he worked as general manager of the professional products division (Kérastase, Decléor, Carita and others) for the Middle East. In October 2015, he was appointed general manager of L’Oréal Germany. Under Megarbane’s leadership, the French group bought Logocos Naturkosmetik, a German company specialised in natural ingredient-based cosmetics.
In revenue terms, China is L’Oréal’s second-largest market after the USA. In 2018, L’Oréal generated approximately 10% of its total worldwide sales there, worth €26.9 billion, posting growth of over 30% in the country.
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