Loreal 2012 Annual Report Download - page 12

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ALL
BEAUTY
FOR
OUR STREAMLINED GOVERNANCE STRUCTURE
SIMPLIFIES DECISION-MAKING AND CLEARLY
ASSIGNS RESPONSIBILITY TO ENSURE RESPONSIVE
MANAGEMENT OF THE GROUP.
JEAN-PAUL AGON CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF L’ORÉAL
THE BALANCE
OF POWER
WITHIN THE
BOARD OF DIRECTORS
Since 2011, Jean-Paul Agon has been Chairman
and Chief Executive Officer of L’Oréal. The Board of
Directors believes this reunification of the two roles is
particularly appropriate for L’Oréal’s specific charac-
teristics: a stable and loyal shareholding structure,
expertise that is solely focused on the beauty profes-
sion, the remarkable loyalty of its senior managers,
who have a throrough knowledge of the business,
steady international growth and solid economic
and financial performances.
This streamlined mode of governance simplifies decision-
making in the beauty profession, where requirements
in terms of innovation and adaptation are extremely
exacting.
Dedicated, vigilant directors
The directors of L’Oréal are constantly kept up to date
on all of the company’s activities and performances.
Highly committed and collectively endowed with
complementary financial, industrial and commercial
expertise, they ensure that all measures contribute to the
implementation of the strategy devised and applied by
the Executive Committee. The work and deliberations of
the Board are carried out transparently, on a collegial
basis, and each member is free to speak his or her mind.
Expanded remits for specialised
committees
Year after year, the work conducted by the four com-
mittees continues to grow. In 2012, the directors held
in-depth discussions concerning an analysis of the
competition, a review of acquisitions, and gender
balance in the workplace. They also considered ethics:
in line with L’Oréal’s ambition to be one of the most
exemplary companies worldwide, the Human Resources
and Remuneration Committee extended its mission to
include all aspects of the group’s ethics programme
which was also reviewed by the Board of Directors.
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