The French beauty giant’s big leadership changes for 2024 include Fabrice Megarbane’s promotion to Chief Global Growth Officer
Fabrice Megarbane will take on the role of Chief Global Growth Officer
Fabrice Megarbane, currently President of L’Oréal’s North Asia Zone, has been promoted to Chief Global Growth Officer of the French beauty group.
He will succeed Frédéric Rozé in January 2024, who is retiring after 38 years working for the conglomerate.
Megarbane's new responsibilities include accelerating L’Oréal’s growth and leading “transformation projects”.
He is a L’Oréal veteran, having joined the company 23 years ago in 2000.
After working in the group’s Professional Products Division, he was appointed GM of L’Oréal Lebanon in 2008.
He then led the Consumer Products Division for the Africa and Middle East Zone between 2011 and 2015, before being appointed GM of L’Oréal Germany in 2016.
A promotion to CEO of L’Oréal China occurred in 2019, followed by the title of President of the North Asia Zone in 2021.
“Fabrice is an outstanding human leader in the truest sense of the word,” said L’Oréal CEO Nicolas Hieronimus.
“Under his leadership, not only has our business in China doubled in sales to record market share while sustaining an ambitious sustainability agenda.
“[But] we have also been able to increase our reputation as an employer and forge closer ties with local stakeholders.
“In his new role, he will be able draw on the vast experience he has gained in North Asia to accelerate other regions, drive our e-commerce growth and lead the group’s transformation programmes.”
Vincent Boinay has been promoted to President of the North Asia Zone and CEO of L’Oréal China
Vincent Boinay will succeed Megarbane as President of the North Asia Zone and CEO of L’Oréal China.
He will assume his new title in February 2024 and move to Shanghai in the near future.
Boinay joined L’Oréal in 1992 as a marketing trainee in the Luxury Division before rising through the ranks of the company’s Travel Retail organisation.
He held a number of commercial roles in Europe, before being appointed Deputy GM for Lancôme in 2000.
After two years as the Head of Luxury Travel Retail, Boinay was appointed GM of L’Oréal Luxe in Japan before being promoted to GM for Travel Retail Worldwide in 2014.
He then joined the group’s Executive Committee in July 2019.
“Vincent is a strategic leader with a genuine love for the culture and people of the North Asia region,” commented Hieronimus.
“He transformed our Travel Retail business, strengthening the Group’s global leadership in the sector and making it a major contributor to L’Oréal’s growth and bottom line.”
Other significant appointments include Emmanuel Goulin to President of Travel Retail in early 2024, succeeding Boinay.
Currently GM of L’Oréal Italy, he has delivered double-digit growth for the group for the past three years.
Goulin will also join the Executive Committee.
“Emmanuel is a young leader with a track record of developing winning teams and delivering strong results,” said Hieronimus.
Laurence Ma, meanwhile, has been promoted to the newly created role of Deputy CEO in Charge of Divisions – L’Oréal China.
Previously GM of L’Oréal Luxe China, Ma’s appointment is effective from February 2024.
She will continue to manage L’Oréal Luxe China.
“Over the years, Laurence has made an incredible contribution to our success in China,” commented Hieronimus.
“Her strong leadership is underpinned by her constant drive to succeed and a remarkable ability to continuously reinvent the business models of the brands in her charge.”