L'Oréal names three new executive committee members
today Jul 15, 2019
French cosmetics group L'Oréal has announced three new appointments to its executive committee. Chief corporate responsibility officer Alexandra Palt will join the committee on 1 September, along with Vincent Boinay, general manager for L'Oréal travel retail worldwide. Fabrice Megarbane, recently appointed president of L'Oréal China, already joined the executive committee on 1 July.
Alexandra Palt first joined L'Oréal in 2012 and notably launched the "Sharing Beauty With All" sustainable development programme in 2013. This strategy aims to make the cosmetics conglomerate an ecologically responsible company, integrating it into a circular business model. Palt also took over as executive vice president of the Fondation L'Oréal in 2017.
Vincent Boinay came to L'Oréal in 1992, gaining experience with brands including Lancôme, Biotherm and Cacharel, before being named as general manager for travel retail worldwide in 2014. In this position, he leads a division which is "one of the most dynamic drivers of L'Oréal's business," as pointed out by the company in a press release.
Fabrice Megarbane joined L'Oréal's professional products division in France in 2000. In 2008 he became general manager of L'Oréal Lebanon, before taking over as head of L'Oréal Germany in 2015. This year, he is succeeding Stéphane Rinderknech as president of L'Oréal China. According to the group, Rinderknech "will be entrusted with new and important responsibilities within L’Oréal," although no further details have been provided as to what these responsibilities might be.
With a portfolio made up of 36 beauty brands, from L'Oréal Paris to Garnier, via NYX, Lancôme, Yves Saint Laurent Beauty and La Roche-Posay, L'Oréal reported revenues of 26.9 billion euros in 2018 and employs some 86,000 people around the world.