L’Oréal has announced a number of moves within its Executive Committee, in addition to the creation of the new role of Deputy CEO in Charge of Divisions – L’Oréal China. The group particularly wants to respond to the increased complexity of the Chinese market.
Fabrice Megarbane will be appointed Chief Global Growth Officer, he will succeed Frédéric Rozé, who has announced his intention to retire at the beginning of next year, after 38 years with the Groupe.
An engineer by training, Fabrice Megarbane joined L’Oréal back in 2000. He has been Chief Executive Officer of L’Oréal China since 2019, and President of the North Asia Zone since 2021. As Chief Global Growth Officer, Fabrice Megarbane will be in charge of accelerating growth, leading transformation projects and animating the Group’s Zones.
“Fabrice has taken our business in China to new heights, achieving record market share in this highly competitive and complex market. 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,” explains Nicolas Hieronimus, L’Oréal CEO.
To assure a successful transition, Fabrice will retain his current responsibilities until the end of January 2024.
To succeed Fabrice Megarbane, Vincent Boinay will be appointed President of the North Asia Zone and Chief Executive Officer of L’Oréal China.
Vincent joined the Group in 1992 as a marketing trainee in the Luxury Division. He quickly rose through the ranks of the Travel Retail organisation, holding a number of different commercial roles in Europe, before being appointed Deputy General Manager Lancôme. After two years as the Head of Luxury Travel Retail, Vincent was appointed General Manager of L’Oréal Luxe in Japan, where his love affair with the North Asia region began, before being appointed General Manager for Travel Retail Worldwide in 2014. He joined the Groupe’s Executive Committee in July 2019.
Vincent will move to Shanghai in the near future and will fully assume his new responsibilities at the beginning of February 2024.
In light of the increased complexity of the Chinese market, Laurence Ma, currently General Manager of L’Oréal Luxe China, will be appointed to the newly created role of Deputy Chief Executive Officer in Charge of Divisions – L’Oréal China.
Laurence joined L’Oréal China 26 years ago as a sales manager, working closely with consumers on the shopfloor and has since gone on to have a hugely successful career with the Group. She became General Manager of the Lancôme Brand in China in 2004. Over the past 26 years, Laurence has built Lancôme into the undisputed leader in the Chinese luxury market. Since, 2021, Laurence has been the head of L’Oréal Luxe in China and has succeeded in gaining market share, despite a difficult external context.
Laurence will continue to manage L’Oréal Luxe China, and will lead the other three Divisions, allowing them all to benefit from her extensive experience, rich people-skills, unique drive and winning mindset.
Laurence’s appointment will become effective at the beginning of February 2024.
Emmanuel Goulin will be appointed President of Travel Retail and will join the Group’s Executive Committee. He will succeed Vincent Boinay.
Currently General Manager of L’Oréal Italy, Emmanuel joined the Groupe in 2000 at the heart of the Groupe’s Luxe Division, and was promoted to the role of General Manger – L’Oréal Italy in 2022.
Emmanuel’s appointment will become effective at the beginning of 2024.