The financial community praised the appointment of Nicolas Hieronimus as L’Oréal’s next chief executive officer.
PARIS — The financial community praised the appointment of Nicolas Hieronimus as L’Oréal’s next chief executive officer.
“Continuity is key,” echoed Bruno Monteyne, an analyst at AB Bernstein, in a note. “The uncertainty surrounding the departing ceo has left a cloud over the stock recently, and this news should be reassuring in that it signals a high level of continuity as [Hieronimus is] someone who sits on the current executive committee.”
Next, he was general manager of L’Oréal Mexico in 2005; general manager of the L’Oréal Professional Products Division, where he extended its global reach with the launch of Iona hair color, before stepping up to president of L’Oréal Luxe in January 2011. In the run-up to Hieronimus’ nomination, some industry sources questioned whether his age might not be a stumbling block to his appointment. That’s because the group’s ceo’s — there have only been five so far, in L’Oréal’s 100-plus years — generally remain in the position for a long while. Owen-Jones’ term, for instance, lasted 23 years.
L’Oréal said the announced positions for Hieronimus and Lavernos will be effective on May 1 by decision of the board at a meeting held after the company’s annual general meeting on April 20. There, Hieronimus is to be appointed as director. He said that if one’s a big cruiser and there’s a storm or the sea begins to roil, it takes ages to turn.
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