MILAN — It’s time for a change at the top of L’Oréal Italia.
Effective May 1, François-Xavier Fenart will succeed president and chief executive officer Cristina Scocchia at the helm of the cosmetic company’s Italian division. Scocchia has stepped down from the role after four years.
With more than 25 years of experience at L’Oréal, Fenart has held several international roles, including general director of the general public product division in Taiwan in 2001 and country manager of L’Oréal Brasil in 2005. Since 2011, Fenart has been the country manager of the company’s Spanish division.
In 2016, the French cosmetic giant generated sales amounting to 25.8 billion euros, or $27.5 billion at current exchange, up 2.3 percent on the previous year. L’Oréal Italia’s revenues increased 3.2 percent, but detailed figures were not disclosed.
In Italy, the group has also established one of its largest manufacturing plants, located in Settimo Torinese, outside Turin.
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First set up in the Sixties, a renovation at the plant was unveiled last July, after being completely robotized and made carbon neutral. This sustainable result was achieved through a combination of different renewable sources, including the installation of 14,000 solar panels and the use of biogas for productive processes.
The project was part of L’Oréal’s worldwide sustainability plan “Sharing Beauty With All,” launched in 2013 with the goal of reducing carbon emissions by 60 percent by 2020 — a mission that L’Oréal Italia already accomplished with the Settimo Torinese plant.