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The global fashion business journal

Jul 9, 202012:46am

L’Oréal USA restructures its helm: new president and CEO

The beauty giant has appointed Stéphane Rinderknech as head of the business in the Unites States while former CEO Frédéric Rozé will become executive vice president, Americas.

Sep 5, 2019 — 4:00pm
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L’Oréal USA restructures its helm: new president and CEO

 

 

L’Oréal reinforces its USA business. The beauty company has appointed Stéphane Rinderknech as president and CEO of the business in the United States, while the beauty sector in the country continues to struggle to keep up its growing pace. Former CEO Frédéric Rozé, in the role since 2009, will stay in the company as executive vice president, Americas.

 

This change in its helm comes after Jean-Paul Agon, chairman and CEO of L’Oréal globally defined the makeup sector as “flat in the United States”. The group has been under several changes in its executive team for a while, including the reorganization of its luxe division in the United States.

 

Rinderknech, that will report directly to Rozé, joined the team in 2001 and had several responsible positions like general manager for Lancôme in Japan, general manager for luxury in Korea and CEO of L’Oréal China.

 

The group closed its first half with a growth of 10.6%, up to 14.8 billion euros (16.5 billion dollars) and a net benefit of 2.5 billion euros (2.7 billion dollars). By regions, the groups revenue boosted in Asia Pacific, with an increase of 30.4%, compared to the 6.8% of North America.

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