THE WHAT? L’Oréal has announced a number of important moves within its executive committee. Fabrice Megarbane will take on the Chief Global Growth Officer role following the retirement of Frederic Roze, while Vincent Boinay will step into Megarbane’s shoes as President of the North Asia Zone and CEO for L’Oréal China.
THE DETAILS In light of the increased complexity of the Chinese market, the French beauty behemoth has also created a new role, Deputy Chief Executive Officer in Charge of Divisions – L’Oréal China. Laurence Ma, the current GM of L’Oréal Luxe China has been named to the new position, effective February 2024.
Boinay will be succeeded in his current role of President of Travel Retail by Emmanuel Goulin, GM of L’Oréal Italy.
THE WHY? L’Oréal CEO Nicolas Hieronimus paid tribute to Roze’s 38-year ‘remarkable international career’ and noted that Megarbane has been selected for his vast experience in North Asia, while Boinay’s transformation of the travel retail business will stand him in good stead for his new challenge.