Governance

A Board committed to its strategic leadership role

The Board devotes most of its time to strategic issues to foster and accelerate L’Oréal’s transformation into an ever more digital and sustainable organisation.

Climate-related challenges and broader sustainability issues are an integral part of that strategy. The variety and wealth of directors’ experience gives them the perspective needed to take a concerted approach as well as analyse in depth with the support of internal and external experts. The Board and the committees have expanded their scope and stepped up their efforts on sustainability in line with progress made under the L’Oréal for the Future programme and the requirements of new European sustainability reporting standards.

L’Oréal’s directors are committed and proactive, driven by the conviction that stringent governance creates value for the company. They play a tireless, dynamic role in the work of the Board and its committees. These committees issue detailed, insightful and reasoned recommendations that inform the Board’s discussions and decisions. The Board is steadfastly focused on ensuring the long-term future and development of L’Oréal, taking into account its purpose as well as the social and environmental implications of its business.

The Board carries out a full review of its procedures and organisation every year to ensure continuous improvement. As part of this annual review, it determines which topics to prioritise, providing the impetus for L’Oréal’s long-term strategy. In addition, the directors meet in an executive session at least once a year.

Ethics, at the heart of L’Oréal’s governance and commitments

The Board of Directors places great importance on respecting L’Oréal’s ethical principles – Integrity, Respect, Courage and Transparency – and more generally its Code of Ethics. The Chief Ethics, Risk & Compliance Officer regularly presents the ethics strategy and the initiatives taken in this field, as well as their results. The Board considers this strategy to be an integral part of L’Oréal’s growth model, supporting its implementation and measuring progress.