Beauty giant L’Oréal has announced a series of appointments as part of the group’s executive committee, which are due to come into effect in the first quarter of 2024.
This includes the creation of the new role deputy CEO in charge of divisions for L’Oréal China, which was established to address the “increased complexity of the Chinese market” and will be taken on by Laurence Ma, who is currently general manager of L’Oréal Luxe China.
Ma initially joined L’Oréal China 26 years ago, during which time she also took on the position of general manager of Lancôme, with the company crediting her with building the brand into an “undisputed leader” in the Chinese luxury market.
Leadership in China gets boost amid ‘increased complexity’
Alongside Ma, Vincent Boinay has been appointed president of North Asia zone and CEO of L’Oréal China after he first joined the group in 1992 and rose through the ranks before becoming general manager for Travel Retail Worldwide in 2014.
According to L’Oréal, Boinay has strengthened the group’s global leadership in this sector, making it a “major contribution” to the company’s growth. He will fully assume his new responsibilities at the beginning of February 2024.
Boinay succeeds Fabrice Megarbane, who will be stepping into the chief global growth officer at the end of January next year, taking on a role that had been held by Frédéric Rozé, who has announced his intention to retire after 38 years at the group.
Now, Megarbane, who has been with L’Oréal since 2000, has been tasked with accelerating growth, leading transformational projects and animating the group’s zones.
Finally, stepping into Boinary’s former position is Emmanuel Goulin, who will also be joining L’Oréal’s executive committee at the beginning of next year.
Goulin is currently general manager of L’Oréal Italy, a role he acquired after working his way through the company following his initial entry in 2000. Since then, he has served in a number of positions, including managing director of Travel Retail, Asia Pacific zone.