LOREAL_Registration_Document_2017

Corporate governance * COMPOSITION OF THE BOARD OF DIRECTORS

CHANGES IN CORPORATE 2.2.3. OFFICES AND DIRECTORSHIPS OF THE DIRECTORS Changes in 2017 Renewal of the tenures of Mrs Françoise Bettencourt s Meyers and Mrs Virginie Morgon as Directors for a period of four years The Annual General meeting of 20 April 2017 renewed the tenures of Mrs Françoise Bettencourt Meyers and Mrs Virginie Morgon as Directors for a period of four years. Tenure as Director expiring in 2017: Mr Peter s Brabeck-Letmathe Mr Peter Brabeck-Letmathe's tenure expired at the close of the Annual General meeting on 20 April 2017. Mr Peter Brabeck-Letmathe had informed the Board of Directors that he did not want his tenure to be renewed following the end of his office as Chairman of the Board of Directors of Nestlé in April 2017. Appointment as a Director for a period of four years in s 2017: Mr Paul Bulcke The Annual General meeting of 20 April 2017 appointed Mr Paul Bulcke, Chairman of the Board of Directors of Nestlé, as a Director for a period of four years. Changes scheduled in 2018 Renewal of the tenure of Mr Jean-Paul Agon s Mr Jean-Paul Agon joined the L’Oréal Group in 1978 and has been a Director since 2006. Following an international career as General Manager of the Consumer Products Division in Greece and of L’Oréal Paris in France, International Managing Director of Biotherm, General Manager of L’Oréal Germany, Executive Vice-President of the Asia Zone, and President and CEO of L’Oréal USA, Mr Jean-Paul Agon was appointed Deputy Chief Executive Officer of L’Oréal in 2005, then Chief Executive Officer in April 2006. He has been Chairman and Chief Executive Officer of L’Oréal since 2011. Mr Jean-Paul Agon has in-depth knowledge of the L’Oréal Group, to which he has very strong ties. He has been committed to the Company's success for over 39 years. He is also the Chairman of the L’Oréal Corporate Foundation and a Director of Air Liquide. During his last term of office, he attended all of the meetings of the Board and of the Strategy and Sustainable

Belén Garijo, 57, a Spanish national, is a graduate of the University of Medicine of Madrid. After several years in pharmacology research at the University of Madrid, she joined the pharmaceutical industry. She has been Chairwoman and Chief Executive Officer of Merck Healthcare since 2011. The company combines the pharmaceutical businesses of the German group Merck. She is also a member of the Group’s Executive Committee. Mrs Garijo is a highly involved independent Director. She provides her expertise in the healthcare sector, her international business experience at the highest levels and her strategic vision to the Board. Mrs Garijo's attendance has been 88% over the four years of her tenure. Expiry date of the term of office of Mr Xavier Fontanet s Mr Xavier Fontanet, who has been a Director since 2002, did not wish to renew his term of office. At the Board meeting of 8 February 2018, the Board extended its sincere thanks to Mr Xavier Fontanet for the quality of his contribution to the discussions of the Board and to the work of the various committees he had been part of. Resignation of Mr Charles-Henri Filippi from his position as s Director The Board of Directors meeting of 8 February 2018 recorded the resignation of Mr Charles-Henri Filippi following his appointment as Partner and Managing Director of Lazard in March 2018, given the nature of the business relations between Lazard and L’Oréal. Mr Filippi was appointed a Director in 2007 and his term of office ended on 8 February 2018. The Board extended its warmest thanks to Mr Filippi for his contribution to the work of the Board and of the three Committees of which he was a member or Chairman (Audit Committee, Appointments and Governance Committee and Human Resources and Remuneration Committee). Appointment of two new Directors in 2018: Mr Axel Dumas s and Mr Patrice Caine Appointment of Mr Axel Dumas as a Director • Following the proposal made by the Appointments and Governance Committee, the Board of Directors submitted the appointment of Mr Axel Dumas as Director, for a period of four years, to the Annual General meeting. Mr Axel Dumas, 47, a French national, holds a Masters in Business law and a degree in philosophy. He is a graduate of Sciences Po and of the Harvard Business School (AmP179). He began his career at BNP Paribas in China, before moving to the United States. Mr Axel Dumas joined the financial department of Hermès in 2003 then became Sales Director for France. He was appointed Chief Executive Officer of Hermès Jewellery in 2006 and has been the Chief Executive Officer of Hermès Leather Goods and Saddlery division since 2008. In May 2011, Mr Axel Dumas was appointed as Executive

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Development Committee, which he chairs. Renewal of the tenure of Mrs Belén Garijo s

Mrs Belén Garijo has been a Director of L’Oréal since April 2014 and a member of the Human Resources and Remuneration Committee since 2015.

REGISTRATION DOCUMENT / L'ORÉAL 2017

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