L'OREAL NAMES NEW PRESIDENT-CEO FOR U.S. OPERATIONS

Laurent Attal Is 19-Year Cosmetics Company Veteran

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CINCINNATI (AdAge.com) -- French executive Laurent Attal will become the new president-CEO of L'Oreal USA, replacing Jean-Paul Agon, who will return to Paris in preparation for taking the helm of the entire company in as CEO next year, the company said today.
One quarter of L'Oreal's sales come from the U.S.

Mr. Attal, 47, currently based in Paris, now heads L'Oreal's Active Cosmetics Division, which includes the Vichy, La Roche Posay and Inneov brands. The 19-year L'Oreal veteran starts the U.S. position effective July 1

L'Oreal's $4 billion U.S. business makes up about a quarter of L'Oreal Group's global sales.

The move keeps overall oversight of the U.S. operation in the hands of French executives, which has been the company's tradition. Senior executives of L'Oreal's U.S. units, including Carol Hamilton, president of L'Oreal Paris; and Karen Fondu, president of the Maybelline-Garnier unit; will report to Mr. Attal. The company's U.S. brands also include Lancome, Biotherm, Redken, Matrix, Ralph Lauren and Kiehl's.

Shared corporate functions, including media buying, also will report directly to Mr. Attal.

Current L'Oreal Chairman-CEO Lindsay Owen-Jones will become non-executive chairman when Mr. Agon becomes CEO.

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