THE WHAT? L’Oréal has announced the reorganization of its geographical zones following the resignation of Jochen Zaumseil, President of the APAC Zone.
THE DETAILS The beauty giant will regroup the North Asia zone to include Mainland China, Hong Kong, Taiwan, Japan and South Korea, which will be led by Fabrice Megarbane, in addition to his current duties as CEO of L’Oréal China and member of the Executive Committee.
L’Oréal will form an ‘important new zone’ consisting of South Asia and the Middle East/North Africa Zone, named SAPMENA (South Asia Pacific – Middle East – North Africa). This will be headed up by Vismay Sharma, who will join the Executive Committee.
And finally, a new Sub-Saharan zone will be created, led by Burkhard Pieroth. The appointments will be effective 1st January.
In addition to the new zones, L’Oréal has created a new position of Chief Global Growth Officer, given to current President of the Americas zone, Frédéric Rose. All Zone Presidents will report to Rose in his new position.
THE WHY? The decision to split India and China is interesting, and may be indicative of the company’s growth plans going forward post-pandemic.
Nicolas Hieronimus, Deputy CEO, stated, “This new organization will give us more agility and the leverage to accelerate our growth, particularly in new areas of high potential.”
Meanwhile outgoing CEO Jean-Paul Agon, said, “This new organization will allow us to respond even better to the diversity of our consumers and their expectations, by providing them with products and services adapted to their local realities, wherever they are. More than ever, the Group is pursuing its goal of Creating Beauty that moves the world.”