L’Oreal has named Nicolas Hieronimus as its new CEO, replacing Jean-Paul Agon, according to the company.
Hieronimus has worked at Garnier and Lancôme and joined L’Oreal in 1987 as a product manager. He has been deputy CEO in charge of divisions since 2017. He will take over as CEO in May 2021 when Agon steps down from his role and continues as chairman.
Sophie Bellon, chairwoman of the appointments and governance committee and independent director, said: "Our committee has been working for more than eighteen months on the future governance of L’Oréal and the succession plan of Jean-Paul Agon as CEO, in an approach that we wanted to be forward-looking, objective and demanding. After studying the Group's major challenges for the coming years, the committee selected several candidates, both men and women, with the skills and personal qualities to meet these challenges successfully. The committee then interviewed them. Nicolas Hieronimus emerged as the most legitimate candidate to succeed Jean-Paul Agon as chief executive officer. His appointment was therefore recommended to the board, with the full agreement of Jean-Paul Agon."
Jean-Paul Agon said: "At my request, the appointments and governance committee started working very early, on an in-depth process to select the new chief executive officer, which it conducted in an exemplary manner.
Nicolas Hieronimus is an inspiring leader who has all the qualities required to be the CEO of L’Oréal. 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. Nicolas Hieronimus is also perfectly prepared for the role, given an exemplary career of more than 30 years within the Group with major successes, most notably at the helm of the L’Oréal Luxe Division. For the last 3 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. He has the board of directors’ full confidence, and as well as my own."