PARIS — It was a historic L’Oréal annual general meeting on Friday, since afterward Sir Lindsay Owen-Jones would step down as company honorary chairman.
He served as the French beauty giant’s chief executive officer from 1988 to 2006, and was on its board for three decades.
Owen-Jones sat in the front row of an auditorium in Paris’ Palais des Congrès along with other board members, including Françoise Bettencourt Meyers, the granddaughter of L’Oréal’s founder, Eugène Schueller, and her son Jean-Victor Meyers.
L’Oréal chairman and ceo Jean-Paul Agon paid tribute to Owen-Jones early in the three-hour-long session. Agon thanked “the person who’s left such a strong imprint on the company.
“He built up L’Oréal to be the great company that it is today, as dreamed by Eugène Schueller and [former chairman] François Dalle,” continued Agon. “It’s a French company that he then turned into a European and then a global company operating on all continents. He’s the architect behind the concept of an international portfolio of brands.
“He’s the visionary who drove L’Oréal to globalization and to be a good corporate citizen,” added Agon. “He’s left a lasting mark on L’Oréal.”
Agon discussed the stellar track record of “O.J.” (referring to Owen-Jones by nickname), saying that during his term, company “sales multiplied by six, earnings per share by 14, the stock-market price by 16 and the dividend per share by 35, which is pretty outstanding.
“I’d also like to express my personal gratitude to him for the exemplary manner in which he passed on management responsibilities when I came to the helm of this wonderful ship L’Oréal,” said Agon.
He finished his homage by quoting what Dalle imparted when Owen-Jones was appointed company ceo: “‘Dear O.J., at the end of your career you will be proud of what you will have accomplished.’ I am sure we all realize today how right he was.”
At the meeting’s end, Virginie Morgon, chief investment officer and member of the executive board of Eurazeo, was voted in as a L’Oréal board member. Meanwhile, Bettencourt Meyers, Nestlé chairman Peter Brabeck-Letmathe and former Renault ceo Louis Schweitzer had their tenures renewed.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews