Board of Directors

The composition of the Board guarantees the interests of all shareholders and reflects L’Oréal’s unique shareholding structure.

As of 31 December 2023, the Board of Directors comprised the Chairman and the Chief Executive Officer, three directors representing the Bettencourt Meyers family (one of whom is Vice-Chairwoman of the Board), two from the Nestlé company (one of whom is Vice-Chairman of the Board), seven independent directors, and two directors representing employees.

Board members include people of five different nationalities, with 50% women and 50% independent directors. Three of the four committees are chaired by independent directors. The directors draw on extensive experience in different areas of business and wide-ranging expertise in an array of fields. This enables them to rise to key challenges regarding L’Oréal’s strategy and performance. Most have managed top-tier international companies and nearly two-thirds have worked abroad during their career.

The diverse experience and expertise they bring ensures free, informed and complementary discussion.

Providing strategic impetus in line with today’s sustainability challenges

L’Oréal’s directors are committed and proactive, driven by the conviction that stringent governance creates value for the company. They play a tireless, dynamic role in the work of the Board and its committees. These committees issue detailed, insightful and reasoned recommendations that inform the Board’s discussions and decisions. The Board is steadfastly focused on ensuring the long-term future and development of L’Oréal, taking into account its purpose as well as the social and environmental implications of its business.

The Board devotes most of its time to strategic issues to foster and accelerate L’Oréal’s transformation into an ever more digital and more sustainable organisation. Climate-related challenges and broader sustainability issues are an integral part of that strategy. The Board and the committees have expanded their scope and stepped up their efforts on sustainability in line with the progress made under the L’Oréal for the Future programme and the requirements of new European sustainability reporting standards. Their wealth of experience gives them the perspective needed to take a concerted approach and explore these issues in greater depth with the help of experts inside and outside the Group.

The Board carries out a full review of its procedures and organisation every year to ensure continuous improvement. As part of this annual review, it determines which topics to prioritise, providing the impetus for L’Oréal’s long-term strategy. In addition, the directors meet in executive session at least once a year.

Ethics, at the heart of L’Oréal’s governance and commitments

The Board of Directors places great importance on respecting L’Oréal’s ethical principles – Integrity, Respect, Courage and Transparency – and more generally its Code of Ethics. The Chief Ethics, Risk & Compliance Officer regularly presents the ethics strategy and the initiatives taken in this field, as well as their results. The Board considers this strategy to be an integral part of L’Oréal’s growth model, supporting its implementation and measuring progress.