L’Oréal has firmed up its succession arrangements, creating a new role of Deputy CEO, according to a report published by Reuters.

The French beauty behemoth appeared to confirm growing speculation that Nicolas Hieronimus is the next in line for the top job, after he was named to the new position. Current CEO Jean-Paul Agon’s contract is due for renewal in 2018. 

Hieronimus joined L’Oreal in 1987 and has enjoyed numerous senior roles and career milestones at the French beauty giant, most recently as President L’Oréal Luxe and President Selective Divisions (Luxury, Active Cosmetics, Professional Products, The Body Shop).