L’Oréal has officially named Nicolas Hieronimus as its new CEO, after months of anticipation.
Hieronimus, the French company's current Deputy CEO, was tipped to take over the role from Jean-Paul Agon in July.
Agon will stay on as chairman after Hieronimus formally takes the reins on 1 May 2021.
Fellow L’Oréal veteran Barbara Lavernos will become Deputy CEO.
Hieronimus joined the beauty brand owner in 1987 as Product Manager. Over his 33-year career, he worked across Laboratoires Garnier, L'Oréal Paris and L’Oréal Professional Products.
Prior to his role as Deputy CEO, he served as President Selective Divisions (Luxury, Active Cosmetics, Professional Products).
Agon described his successor as "an inspiring leader" who has "all of the qualities" to be 111-year-old company's sixth CEO.
"His great sensitivity to the needs and expectations of consumers, his perfect understanding of the spirit of the times, his marketing experience of beauty in all channels, countries and categories, his intimate knowledge of the group’s brands and his ability to unite and engage teams make him the best candidate to lead L’Oréal," continued Agon.
"For the last three years, he has played a key role by my side as Deputy CEO, to animate our operational divisions, especially in the period of crisis that we have been traversing for several months."
Lavernos was named COO of L'Oréal in 2014 and, as well as taking on the role of Deputy CEO, will be President of Research, Innovation and Technology from February 2021.
"Given her background, skills and personal qualities, Barbara Lavernos is perfectly equipped to take on the strategic role of Deputy CEO," added Agon.
"With her appointment, research is placed at the highest level of the group, confirming its critical role for L’Oréal.
"The new direction, combining R&I and technology will be the cradle of the group’s great inventions for the future."
