News release - February 15, 2013
Publication of the remuneration components of L'Oréal's Chairman & CEO made pursuant to the AFEP MEDEF Code of Corporate Governance for listed companies of April 2010
At its meeting on February 11, 2013, based on the proposals made by the Human Resources and Remuneration Committee and after a review by the Committee of the performance assessment criteria set out on page 54 of the 2011 Registration Document, the Board of Directors of L'Oréal decided the following concerning the remuneration of Jean-Paul Agon, Chairman & CEO:
Remuneration in respect of 2012
The variable part of Jean-Paul Agon's remuneration for 2012 was set at 1,785,000 euros, as compared to a target objective of 2,100,000 euros.
Note: the fixed part of the remuneration of Jean-Paul Agon had previously been set by the Board of Directors at 2,100,000 euros in respect of 2012.
The total remuneration in respect of 2012 is unchanged versus 2011.
Remuneration in respect of 2013
The Board of Directors decided to maintain the fixed part of the remuneration of Jean-Paul Agon at its current level of 2,100,000 euros.
The Board of Directors also decided to maintain for the variable part of the remuneration, the target of 100% of the fixed part of the remuneration i.e. 2,100,000 euros. The Board of Directors maintained the same performance assessment criteria which will be published in the 2012 Registration Document.
“This news release does not constitute an offer to sell, or a solicitation of an offer to buy L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com.
This news release may contain some forward-looking statements. Athough the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements.”
Contacts at L'ORÉAL
Individual shareholders and market authorities
Mr Jean Régis CAROF
Tel.: +33 1 47 56 83 02
[email protected]
Financial analysts and institutional investors
Mrs Françoise LAUVIN
Tel.: +33 1 47 56 86 82
[email protected]
Journalists
Mrs Stephanie CARSON-PARKER
Tel.: +33 1 47 56 76 71
[email protected]
Switchboard
Tel.: +33 1 47 56 70 00
For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, and the Internet site for shareholders and investors, www.loreal-finance.com, or its mobile version on your cell phone, loreal-finance.mobi; alternatively, call +33 1 40 14 80 50.
