Renewal of the term of office of Mr Nicolas Meyers as Director
As the term of office of Mr Nicolas Meyers as Director is set to expire, the renewal of his term of office for four years is submitted to the Annual General Meeting.
A Director of L’Oréal since 2020, Mr Nicolas Meyers has been a member of the Audit Committee since May 2021.
He has been a member of the Supervisory Board of the family holding company Téthys since 2011 and of Téthys Invest since 2016. He has also been a Director of the Bettencourt Schueller Foundation since 2012.
The son of Ms Françoise Bettencourt Meyers and Mr Jean-Pierre Meyers, Nicolas Meyers brings his keen interest in new technologies and social commitment to the Board of Directors, in addition to in-depth knowledge of L’Oréal and a strong connection to the company.
Nicolas Meyers is actively involved in the work of the Board and the Audit Committee as part of the Company’s long-term development.
Over the four years of his directorship, Mr Nicolas Meyers’ attendance at meetings of the Board of Directors has been 100%(1)Excluding the extraordinary meeting of the Board of Directors on 5 November 2021, from which Mr Nicolas Meyers abstained from participating because it related to the buyback of L’Oréal shares from Nestlé., as has been his attendance at meetings of the Audit Committee, which he joined in May 2021.
2.3. Departure of Ms Belén Garijo
The meeting of the Board of Directors on 8 February 2024 recorded Ms Belén Garijo’s wish to stand down as Director at the close of the Annual General Meeting of 23 April 2024, two years before her term of office expires, on the grounds of availability associated with her professional activities. The Board of Directors paid tribute to Ms Garijo for her high-quality contribution to the work of the Board and the Human Resources and Remuneration Committee during her 10 years in office.
3. Composition of the Board of Directors after the Annual General Meeting of 23 April 2024
If the Annual General Meeting approves the appointment and renewals submitted to it in 2024, the expiry dates of the terms of office of the Company’s 16 Directors would be as follows:
| Composition of the Board of Directors (after the 2024 Annual General Meeting) | Age | W/M | Nationality | Expiry of term of office | Board committees | ||||
|---|---|---|---|---|---|---|---|---|---|
| S&S | Audit | Gov. | RH & Rem. | ||||||
| Corporate officers |
Mr. Jean-Paul Agon – Chairman of the Board |
67 | M | French | 2026 | C Chairman of the Committee. | Membre du Comité. | Membre du Comité. | |
|
Mr. Nicolas Hieronimus – Chief Executive Officer |
60 | M | French | 2025 | |||||
| F. Bettencourt Meyers and her family |
Ms F. Bettencourt Meyers – Vice-Chairwoman |
70 | W | French | 2025 | Membre du Comité. | Membre du Comité. | Membre du Comité. | |
| Mr. Jean-Victor Meyers | 37 | M | French | 2028 | Membre du Comité. | ||||
| Mr. Nicolas Meyers111 | 35 | M | French | 2028 | Membre du Comité. | ||||
| Directors linked to Nestlé |
Mr. Paul Bulcke – ice-Chairman |
69 | M | Belgian-Swiss | 2025 | Membre du Comité. | Membre du Comité. | Membre du Comité. | |
| Ms Béatrice Guillaume-Grabisch | 59 | W | French | 2028 | |||||
| Independent Directors Independence within the meaning of the criteria of the AFEP-MEDEF Code as assessed by the Board of Directors. | Ms Sophie Bellon | 62 | W | French | 2028 | Membre du Comité. | C Chairwoman of the Committee. | ||
| Mr. Patrice Caine | 54 | M | French | 2025 | Membre du Comité. | C Chairman of the Committee. | |||
| Ms Fabienne Dulac | 56 | F | French | 2027 | Membre du Comité. | Membre du Comité. | |||
| Ms Ilham Kadri | 55 | F | French- Moroccan | 2028 | Membre du Comité. | ||||
| Ms Virginie Morgon | 54 | French | 2025 | C Chairwoman of the Committee. | |||||
| Mr. Alexandre Ricard | 51 | M | French | 2025 | Membre du Comité. | Membre du Comité. | |||
| Mr. Jacques Ripoll | 58 | M | French | 2028 | Membre du Comité. | ||||
| Directors representing employees | Mr. Benny de Vlieger | 59 | M | Belgian | 2026 | Membre du Comité. | |||
| Mr. Thierry Hamel | 69 | M | French | 2026 | Membre du Comité. | ||||
| Independence | N/A | 66% | 50% | 60 % | |||||
Independence within the meaning of the criteria of the AFEP-MEDEF Code as assessed by the Board of Directors.C Chairman/Chairwoman of the Committee.
● Committee Member.
(1) Excluding the extraordinary meeting of the Board of Directors on 5 November 2021, from which Mr Nicolas Meyers abstained from participating because it related to the buyback of L’Oréal shares from Nestlé.