L’Oréal Makes Changes at the Top
The company’s latest additions will see Alexandra Palt, Chief Corporate Responsibility Officer and Executive Vice President of the Foundation L’Oréal, and Vincent Boinay, General Manager for Travel Retail Worldwide, join L'Oréal’s Executive Committee on 1st September. L’Oréal also welcomed Fabrice Megabrane, President L’Oréal China, to its Executive Committee on 1st July. Looking ahead, corporate responsibility, travel retail and China account for three of the French personal care leader’s core areas of focus.
1. Corporate responsibility
L’Oréal has committed to its sustainability progression for 2020 with its Sharing Beauty With All initiative. Its plans and objectives are set out in the company’s annual report and relays how L’Oréal is advocating innovating, producing, living and developing sustainably.
Alexandra Palt, Chief Corporate Responsibility Officer and Executive Vice President of the Fondation L’Oréal is joining the Group to further its sustainable efforts. The company aims to “become one of the top recognised companies in the world in terms of sustainable development”, under her leadership, L’Oréal revealed.
A trained lawyer, Alexandra Palt started her career at a law firm, before becoming part of the team at Amnesty International in Germany. Alexandra then moved onto HALDE (French Equal Opportunities and AntiDiscrimination Commission) in 2006 as Director of the Promotion of Equality.
Sustainability became a specialism of hers and she set up a strategic consultancy company focusing on the commitment and dedication to environmental responsibility. Alexandra first joined L'Oréal as Chief Sustainability Officer in 2012 and established the company’s sustainability programme, Sharing Beauty With All. Working as the head of L'Oréal’s sustainability department, Alexandra was also appointed as Executive Vice President of the Foundation at L’Oréal.
The company hopes that through Alexandra’s appointment and its overall dedication to sustainability, it will become “both a business and environmental societal leader”.
2. Travel retail
Hailed as L’Oréal’s sixth continent, travel retail proves a key distribution channel for the company, along with its other networks: mass market, department stores, pharmacies and drugstores, hair salons, branded retail and e-commerce.
Looking ahead, L’Oréal’s focus will be on engaging with its ultra-connected consumers through digital platforms, as well as building online and offline personalised customer experiences, The Moodie Davitt report revealed.
Vincent Boinay, General Manager for Travel Retail Worldwide joins the Executive Committee on 1st September 2019. He was already well-versed in both L’Oréal and travel retail after joining the Luxe arm of the business in 1992 and holding numerous roles in the travel retail arena.
He was appointed as Director International Development for L’Oréal-owned Lancôme in 2000, before working as a General Manager for Biotherm / Cacharel in France in 2004.
Next, focusing on the Asian market, Vincent was appointed as Vice President in charge of L’Oréal Luxe in Japan in 2007. Moving back to his roots in travel retail, he became General Manager for Travel Retail Worldwide in 2014.
Centring on the formidable nature of travel retail and its movement into becoming “a very significant player of the beauty industry”, L’Oréal puts this down to the “remarkable growth in number of travelers”. This is paired with the increasing number of middle class shoppers and the democratisation of travel, along with the entry of airport and cruise ship shopping centres and duty‐free shops.
Unlike other brands in its market, L’Oréal has emphasised that its business is booming in China. As such, the nation has become a key growth area for the beauty giant.
Under the leadership of Fabrice Megabrane, “L'Oréal China has become a key lever for the growth of the Group”, the company states.
On 1st July, Fabrice Megabrane joined L'Oréal as the President L’Oréal China. Fabrice Megabrane joined the company’s Professional Products Division in France in 2000. Moving to the Western Asia marketplace in 2008, Fabrice became the General Manager of L'Oréal Lebanon.
In 2011, he was then appointed as the Director Consumer Products Division for the Africa Middle-East zone, before becoming General Manager of L'Oréal Germany in 2015.
Along with the leading segments and market focus driving the company’s efforts, the Executive Committee appointments will aim to develop L’Oréal’s presence and share of these core areas.