L’Oréal has announced the appointment of Nicholas Hieronimus as its new Chief Executive Officer, replacing outgoing chief Jean-Paul Agon.
Speculation had formed over Agon’s successor since his retirement announcement, with the appointment confirmed by the company board yesterday.
Hieronimus has spent his career with L’Oréal and is currently Deputy CEO in charge of divisions. The beauty specialist is set to take over the helm from the 1 May, 2021, with Agon remaining on as company Chairman.
Barbara Lavernos will take over the role of Deputy CEO.
Speaking about the appointment, Chairwoman of the Appointments and Governance Committee and independent Director, Sophie Bellon said: “After studying the Group’s major challenges for the coming years, the Committee selected several candidates, both men and women, with the skills and personal qualities to meet these challenges successfully.”
“The Committee then interviewed them. Nicolas Hieronimus emerged as the most legitimate candidate to succeed Jean-Paul Agon as Chief Executive Officer. His appointment was therefore recommended to the Board, with the full agreement of Jean-Paul Agon.”