L’Oreal Names CEO To Follow Agon; ELC And Coty Appoint Digital Leadership; Executive News In Brief
Deputy CEO Nicolas Hieronimus will take L’Oreal’s helm beginning in May 2021, with Jean-Paul Agon continuing as chairman, the firm announced on 14 October. The Estee Lauder Companies hires PepsiCo’s Gibu Thomas to lead its online business, and Coty appoints its first chief digital officer.
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L’Oreal Appoints Research, Innovation And Tech Head; Shiseido’s First Female Regional CEO; Beauty Exec News
Beginning in February 2021, Barbara Lavernos, chief technologies and operations officer at L’Oreal, will be president of research, innovation and technologies, a role that CEO Jean-Paul Agon says is crucial to the company’s BeautyTech future. More beauty industry people news.
The highly anticipated solution to Coty’s biggest problem, new CEO Sue Nabi, addressed analysts for the first time during the firm’s 27 August fourth-quarter and full-year earnings call. Coty is counting on Nabi’s brand turnaround savvy and Asian market experience gained at L’Oreal, as well as her entrepreneurial vision, to make the company profitable again in the new fiscal year and fuel forward growth.
Lauder’s online business grew at a near triple-digit organic rate in the fiscal 2020 fourth quarter, and the firm intends to go on investing resources accordingly. The firm’s fiscal 2020 net sales slipped 4% to roughly $14.3bn, reported, due to COVID-19 effects.