By  on February 19, 2012

PARIS – Jean-Paul Agon, L’Oréal’s chairman and chief executive officer is to propose ending the corporation’s current stock-option system and waive half of the shares given to him for 2010, a company spokeswoman confirmed on Sunday.

Today, 2,300 L’Oréal employees benefit from an arrangement whereby the company board grants managers shares at a fixed price that cannot be exercised for a period of five years minimum.

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