L'Occitane Group’s Laurent Marteau has stepped down as Group CEO.
Marteau resigned from his position at the beauty giant on 16 September to focus on “personal pursuits”.
His departure comes five months after Marteau took on the new position of Group CEO, which combines the responsibilities of CEO and Group MD into one role.
Marteau first joined L'Occitane in 2022 as Group MD to accelerate the company’s omnichannel strategy in key markets.
“Mr. Marteau’s resignation reflects his desire to focus more on his personal pursuits as well as other business interests,” read a statement from L'Occitane Group.
“The board sincerely thanks Mr. Marteau for his service and contribution to the company and wishes him well in his future endeavours.”
A transitional management team has been set-up by the board to manage the company’s day-to-day operations in the interim, called the ‘Office of the Chief Executive’.
Members include Reinold Geiger, Chair and controlling shareholder of L'Occitane Group; Samuel Antunes, Group CFO; and Ingo Dauer, Group General Counsel.
This news comes as L'Occitane International prepares to delist from the Hong Kong Stock Exchange.
“The delisting process is progressing as planned and is expected to be completed by 16 October 2024,” said a statement from the group.