L'Oréal makes key executive appointments

23-Nov-2018 - Last updated on 23-Nov-2018 at 06:05 GMT

L'Oréal has announced a number of new executive appointments, including the position of chief financial officer, and a new head of the company’s Luxe division.

Christophe Babule, a 30-year veteran with the group, is to take up the position of executive vice-president, chief financial officer in mid-February, who takes over from Chistopher Mulliez, who has made the decision to step back his role having spent 36 years in the group.

In addition to that appointment, Cyril Chapuy has been confirmed as the new president of L'Oréal Luxe, a role he will be taking over from Nicolas Hieronimus, who in turn has been appointed as deputy CEO in charge of all the company’s divisions.

Cabule reports to Jean-Paul Agon

In his new role Cabule will report directly to Jean-Paul Agon, chairman and CEO of the L'Oréal group, and will be taking up the position in February 2019, while Mulliez will provide transitional support for Cabule for a period of two months.

"I would like to thank Christian Mulliez and express my gratitude for his outstanding commitment and important contribution to L'Oréal's success during all these years,” said Agon.

“We are pleased to welcome Christophe Babule to the Executive Committee who brings us his significant experience of financial management and deep knowledge of business and Asia."

Divisions shake up

The executive reshuffle for the groups primary business divisions will see Babule take over the new role on January 1^st 2019, while Hieronimus will take up his new position in charge of all of the division on April 20^th 2019.

Babule’s career began with L’Oréal Paris in 1993 and since then he has played important roles in the company’s international business, including general manager of the consumer products division in Brazil and president of Maybelline in New York.

"Together with Jean-Paul Agon, we are pleased to welcome Cyril Chapuy to the Executive Committee. Throughout his career within brands and internationally, Cyril has demonstrated a strong added value on product development, great strategic and marketing skills as well as a sense of image in the digital era. These are major assets in the pursuit of L'Oréal Luxe's success," said Hieronimus.