Pierre Fabre in management restructure

Published: 21-Aug-2009

Family-owned French company Pierre Fabre, which specialises in dermatological cosmetic products as well as mainstream pharmaceuticals, has changed its management structure as its founder Pierre Fabre eases away from overall control.


Family-owned French company Pierre Fabre, which specialises in dermatological cosmetic products as well as mainstream pharmaceuticals, has changed its management structure as its founder Pierre Fabre eases away from overall control.

The parent company Pierre Fabre SA has become a company with a supervisory board with Pierre Fabre as president but he has handed the presidency of the management board over to Jean-Pierre Garnier, former president of the GlaxoSmithKline drug group. While M Fabre has now relinquished his functions as drug sector president he will retain his role as president of the dermatological cosmetics business.

Earlier changes to company structure meant that while the Fabre family retained 25% of the equity capital, a significant slice was assigned to the workforce and the current position is that 91% of the group's 9800-strong workforce hold 6.9% of the capital, a holding worth about €85m.

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