THE WHAT? L’Oréal-owned Lancôme has appointed Stuart Leitch as its new brand President, effective 1st January, 2020, according to a report by WWD.com.
THE DETAILS Currently President of retail sales and business strategy for the L’Oréal Luxe division, Leitch will succeed Suriya Parksuwan, who has been promoted to Managing Director for L’Oréal Luxe U.K. and Ireland.
Leith will report to Megan Grant, President of L’Oréal Luxe USA in his new role.
THE WHY? Leitch is said to have been chosen for his business acumen and experience in the prestige market.
Grant stated, “[Leitch’s] business expertise and deep knowledge of the luxury market makes him well-positioned to head the brand.
“As the new president, he will be responsible for continued growth and profitability of Lancôme, which I am confident he will achieve with strong results.”