– L’OREAL BUYBACK BOOST: The board of L’Oréal authorized a stock repurchase program of 1.25 billion euros, or $1.94 billion at current exchange, over the next 12 months. A previous buyback plan for an identical amount resulted in the purchase of more than 14.6 million shares, or 2.3 percent of the total. The previously purchased shares have been canceled.
This story first appeared in the June 20, 2008 issue of WWD. Subscribe Today.
– TALBOTS’ EXECUTIVE MOVES: The Talbots Inc. announced three senior-level promotions, completing a restructuring of the executive team leading a three-year strategic plan to turn around the business. John Fiske was named executive vice president of human resources and administration, adding responsibilities for business development, corporate services and loss prevention in addition to his existing h.r. duties. Fiske was senior vice president, human resources for the Talbots and J. Jill brands. Julie Lorigan has been promoted to senior vice president of investor and media relations, from vice president of investor relations. Carol Stone has been named senior vice president of finance. Stone was vice president, corporate controller.