L'Oréal said that its Annual General Meeting adopted all the proposed resolutions. The AGM approved the parent company financial statements and the consolidated financial statements for 2021.
The AGM decided on the distribution of a dividend of 4.80 euros per share. The dividend is increased to 5.28 euros for shares that have been continuously held in the registered form since 31 December 2019 at the latest and until the dividend payment date, i.e. Friday 29 April 2022.
The AGM renewed the term of office as Directors of Jean-Paul Agon, Mr Patrice Caine and Belén Garijo for a four-year term.
The AGM approved the related-party agreement regarding the repurchase by L'Oréal of 22,260,000 shares from Nestlé representing 4 percent of the share capital.
The AGM renewed the term of office of Deloitte & Associés and appointed Ernst & Young, as a substitution for PricewaterhouseCoopers Audit, as Statutory Auditors.
The Board of Directors, meeting after the General Meeting, decided to renew the dissociation of functions of Chairman of the Board and Chief Executive Officer, Mr Nicolas Hieronimus performing the duties of Chief Executive Officer, and to renew the duties of Mr Jean-Paul Agon as Chairman of the Board of Directors.
Thierry Hamel and Mr Benny de Vlieger joined the Board of Directors as new Directors representing the employees, appointed respectively by the CFE-CGC (the most representative trade union in L'Oréal for France) and by the Instance Européenne de Dialogue Social (European Works Council), for a four-year term.(DPA)