L'Oréal Names New CFO in Management Makeover -- Update

By Tatyana Shumsky 

L'Oréal SA appointed Christophe Babule finance chief and executive vice president as part of a management shuffle that also saw the French cosmetics giant name a new leader of its Luxe group on Monday.

Mr. Babule will assume the role in mid-February. He also will join L'Oréal's executive committee. Mr. Babule joined L'Oréal in 1988, serving most recently as the administration and financial director for the Asia Pacific region in Hong Kong.

Mr. Babule succeeds Christian Mulliez, who will leave the company in April 2019 following a handover period. Mr. Mulliez, who spent 17 years as executive vice president and CFO and 36 years with the company, "expressed his desire to take a step back from his professional activity for personal reasons," the company said.

L'Oréal also appointed Cyril Chapuy as president of L'Oréal Luxe, its premium division that includes Lancôme and Khiel's brands. He begins Jan. 1 and succeeds Nicolas Hieronimus, who was named deputy CEO in April.

A spokeswoman for L'Oréal declined to comment beyond the press release.

L'Oréal reported a 6.8% increase in like-for-like sales to EUR19.86 billion ($22.67 billion) over the first nine months of 2018, the company said last month.

Write to Tatyana Shumsky at [e-mail]

(END) Dow Jones Newswires

November 19, 2018 14:40 ET (19:40 GMT)

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