Brazil and India highlighted
L'Oréal has confirmed the reunification of the roles of president of the board and director general of the group. Jean-Paul Agon has been named president director general (PDG) while Lindsay Owen-Jones becomes honorary president.
The intention is for the transfer of responsibilities to take place just before Owen-Jones reaches the age of 65 which will be in mid-March this year.
Meanwhile Agon, in an interview with Le Figaro, has said L'Oréal will make further acquisitions in the emerging countries, especially in Brazil and India.
The company has a low level of debt and a war-chest based on its 8.6% stake in the drugmaker Sanofi-Aventis and so is in a strong position to make purchases.
Agon said the company already had a diversified portfolio covering European and American brands together with Japanese and Chinese brands – respectively Shu Uemura and Yue Sai. L'Oréal estimates that after putting on growth of 3-4% last year the global cosmetics market is set to rise by a further 3-4% this year.