PARIS — L’Oréal has appointed three new members of its executive committee.
The world’s largest beauty company said Friday that Alexandra Palt, chief corporate responsibility officer and executive vice president of the Fondation L’Oréal, and Vincent Boinay, general manager for travel retail worldwide, will join the committee on Sept. 1.
Fabrice Megarbane, president of L’Oréal China, became a member on July 1.
Palt took over the helm of L’Oréal’s foundation in 2017, after becoming the group’s chief sustainability officer in 2012.
“The decision to position this strategic function within the executive committee reinforces L’Oréal’s ambition to be both a business and environmental societal leader,” the company said in a statement. “Under Alexandra Palt’s leadership, L’Oréal has become one of the top recognized companies in the world in terms of sustainable development.”
Boinay was named to the top role of the group’s travel retail division five years ago.
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“Travel retail is one of the most dynamic drivers of L’Oréal’s business,” the company said. “The remarkable growth in number of travelers, coupled with the rise of middle classes and democratization of travel, combined with the emergence of shopping centers in airports, cruise ships and duty-free shops in cities, have made travel retail a very significant player of the beauty industry.”
Megarbane, who became president of L’Oréal China this year, succeeded Stéphane Rinderknech on L’Oréal’s board of directors.
“Under [Megarbane’s] leadership, L’Oréal China has become a key lever for the growth of the group,” the company said.
L’Oréal said Rinderknech “will be entrusted with new and important responsibilities within L’Oréal.”