L'Oréal - 2018 Registration Document

Corporate Governance COMPOSITION OF THE BOARD OF DIRECTORS

CHANGES IN CORPORATE 2.2.3. OFFICES AND DIRECTORSHIPS OF THE DIRECTORS Changes in 2018 Renewal of the terms of office of Mr Jean-Paul Agon s The Annual General Meeting of 17 April 2018 renewed the term of office of Mr Jean-Paul Agon for a 4-year period. Mr Jean-Paul Agon joined the L’Oréal Group in 1978 and has been a Director since 2006. He has been Chairman and Chief Executive Officer of L’Oréal since 2011. Renewal of the terms of office of Ms Belén Garijo s The Annual General Meeting of 17 April 2018 renewed the term of office as Director of Ms Belén Garijo for a 4-year period. Resignation of Mr Charles-Henri Filippi from his position s as Director The Board of Directors meeting of 8 February 2018 recorded the resignation of Mr Charles-Henri Filippi following his appointment as Partner and Managing Director of Lazard in March 2018, given the nature of the business relations between Lazard and L’Oréal. Mr Filippi was appointed a Director in 2007 and his term of office ended on 8 February 2018. Expiry date of the term of office of Mr Xavier Fontanet s Mr Xavier Fontanet, who has been a Director since 2002, did not wish to renew his term of office. Appointment of a new Director: Mr Patrice Caine s The Annual General Meeting of 17 April 2018 appointed Mr Patrice Caine as Director for a 4-year period. Mr Caine is

Ms Bellon is an independent Director, highly involved in the work of the Committees, who brings her multidisciplinary knowledge of the Company, her client expertise, her mastery of governance issues, her strategic vision, and her commitments to social and societal responsibility to the Board. Over the four years of her term of office as Director, Ms Bellon’s attendance has been 100% for meetings of the Board of Directors and 96% for the three Committees of which she is a member. Appointment of a new Director: Ms Fabienne Dulac s Following the proposal made by the Appointments and Governance Committee, the Board of Directors submitted the appointment of Ms Fabienne Dulac, Deputy Chief Executive of the Orange Group and Chairwoman and Chief Executive of Orange France, as Director, for a period of four years, to the Annual General Meeting. Ms Fabienne Dulac, 51, is French and holds a Master of Advanced Studies (DEA) in Political Sociology obtained following studies in History and Modern Literature. After working for the French Ministry of Home Affairs, she joined the corporate world, taking a position as Head of Communication and Marketing at VTCOM, a multimedia services development company, in 1993. Ms Dulac joined France Telecom in 1997 in its Multimedia Division. Her responsibilities as Head of External Communication included all of France Telecom's multimedia businesses ; she particularly contributed to founding Wanadoo. She held various positions over a decade in marketing, business development, and customer relationships. In 2008, she was named Vice President of Digital business of Orange France. In 2011, Ms. Dulac became Head of the Orange North France Division in charge of Operations for France. In 2013, Ms Dulac was appointed Head of Communication at Orange France. In 2015, Ms Dulac was made Senior Vice-President of Orange France and joined the Executive Committee as Chairwoman and Chief Executive of Orange France. She was appointed Deputy Chief Executive Officer of the Orange Group in May 2018. She is also Director of Orange Bank, as of Willa (an incubator dedicated to Female entrepreneurship). Ms Fabienne Dulac will bring the Board of Directors her knowledge of the digital industry, consumers, and customer relationships, her human resources expertise and her experience in steering an organisation through a major transformation. Ms Dulac will also contribute her personal vision, drawn from her education and career, as well as her sense of innovation paired with her tremendous personal qualities.

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Chairman and Chief Executive Officer of Thales. Appointment of a new Director: Mr Axel Dumas s

The Annual General Meeting of 17 April 2018 appointed Mr Axel Dumas as Director for a 4-year period. Mr Dumas is the Executive Chairman of Hermès International,

Changes scheduled in 2019 Renewal of the term of office of Ms Sophie Bellon s

Ms Sophie Bellon has been a Director at L’Oréal since April 2015. She chairs two Committees: the Human Resources and Remuneration Committee, and the Appointments and Governance Committee. She is also a member of the Audit Committee. Ms Sophie Bellon, 57, has been Chairwoman of the Board of Directors of Sodexo since January 2016 after holding various positions in that group for more than 20 years. Sodexo, a world leader in quality-of-life services, has locations in 72 countries and has 460,000 employees worldwide.

REGISTRATION DOCUMENT / L'ORÉAL 2018

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