L'Oreal head Sir Lindsay Owen-Jones receives top award

By staff reporter

- Last updated on GMT

Related tags L'oréal

L'Oreal chairman Sir Lindsay Owen-Jones has received a lifetime
achievement award at the European Business Leaders of the Year
Awards in recognition of his role in the meteoric rise of the
company during his 20 year tenure as CEO.

During his two decades in charge L'Oreal achieved double-digit growth year after year and transformed the company from a French export business into a multinational global group.

In partnership with the Financial Times, CNBC Europe presented the award to Owen-Jones at a ceremony in London after his fellow business leaders honored the head of the world's largest cosmetics company for his contribution to business growth, innovation and leadership.

Leading L'Oreal's growth While Owen-Jones was at the helm of L'Oreal consolidated sales multiplied 8 times (from €1.96bn to €15.79bn) and its net profit increased17 times (from €104m to €1.83bn).

His tremendous success as CEO was attributed concretely to a focus on emerging markets, shrewd acquisitions, innovation and concentration on core activities.

L'Oreal launched subsidiaries in 22 countries, streamlined the company by focusing on the beauty sector, strategically acquired brands with global potential and invested heavily in research.

Shared acheivement "This is a personal award, but through me the distinguished panel is rewarding L'Oreal and its employees," said Sir Lindsay Owen-Jones.

"It is their passion for excellence, their constant innovation, their commitment to developing our brands and satisfying all types of beauty throughout the world that have made the long-term success of L'Oreal."

Owen-Jones joined L'Oreal in 1969 as a product manager following an education at Oxford University and INSEAD and rose through the ranks at the company becoming CEO in 1984.

In April 2006 he handed the reigns to Jean-Paul Agon remained at the company where he sent his entire working life as chairman

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