PARIS — Drawing on talent from within company ranks, L’Oréal has named Christophe Babule as financial director and Cyril Chapuy to head the luxury division, with appointments effective early next year.
Both executives will join the company’s executive committee.
Babule replaces beauty veteran Christian Mulliez, who has worked for the company for 36 years and is stepping down for personal reasons, according to L’Oréal. Babule joined L’Oréal after finishing business studies in France, and rose up the ranks in Mulliez’s team after stints in China and Mexico.
The French business school graduate will take up his position in mid-February, reporting to chief executive officer Jean-Paul Agon, who highlighted the executive’s experience in Asia in addition to finance in a statement.
Chapuy, another company veteran who has spent his entire career at the beauty giant, also has experience in international markets, running consumer products in Brazil before becoming deputy general manager of the luxury division.
Chapuy starts his new job in January, reporting to the company’s deputy ceo, Nicolas Hieronimus. In a statement, Hieronimus flagged Chapuy’s marketing skills and “sense of image in the digital era.”