L’Oreal announces departure of Alexandra Palt from her role as Chief Corporate Responsibility Officer, effective April 1

Alexandra Palt will remain CEO of the Fondation L'Oréal until 30thJune 2024 and will then sit on the board of the Fondation L’Oréal

Clichy, 7 February 2024 – L’Oréal announced today the departure of Alexandra Palt from her role as Chief Corporate Responsibility Officer, effective April 1st, as she embarks on a new chapter focused on personal endeavors.

During her twelve-year tenure as Chief Corporate Responsibility Officer, Alexandra’s leadership has had a profound impact across the group and wider industry. She helped L’Oréal Groupe define and work towards ambitious targets to combat climate change and preserve biodiversity, while introducing group- and industry-wide transparency initiatives such as Product Impact Labelling (PIL) and the EcoBeautyScore. In 2020, she launched L’Oréal for the Future, an operational roadmap for transforming the group’s business while respecting planetary boundaries and advocating for a just transition. Under Alexandra’s leadership, the L’OréalGroupe earned a Triple “A” rating from the Carbon Disclosure Project (CPD) eight times in a row. Her pioneering vision has also helped L’Oréal Groupe expand its role in society through various philanthropic programs, most notably through the Fondation L’Oréal and its For Women in Sciences international awards program, as well as through the L’Oréal Fund for Women supporting grass-roots organizations fighting violence against women and promoting their empowerment worldwide. Alexandra also launched two impact investing funds, the L’Oréal Fund for Nature Regeneration and the Circular Innovation Fund. Her personal commitment to a just and sustainable society made her a preferred partner to stakeholders around the world.

Alexandra joined L’Oréal Groupe as Chief Sustainability Officer in 2013 and was nominated to the Executive Committee as Chief Corporate Responsibility Officer in 2019. She will serve until 30th June 2024 as CEO of the Fondation L'Oréal and will then take a seat on the board of the Fondation L’Oréal.

Alexandra will be succeeded as Chief Corporate Responsibility Officer by Ezgi Barcenas, who joins L’OréalGroupe from AB InBev, where she was Chief Sustainability Officer and served as a member of the senior leadership team. During her ten years at AB InBev, Ezgi established and ran the global sustainability function, having architected AB InBev's ambitious ‘net-zero by 2040’ ambitions. Ezgi oversaw the company's award-winning sustainability start-up program, 100+ Accelerator, now in its fifth year. Based in New York, she led cross-functional teams focused on agricultural development, water management, circular packaging and climate action to build a resilient and prosperous value chain spanning nearly 50 countries.

Ezgi was recently named to TIME magazine's TIME100 Climate list, which recognizes 100 of the world's most influential business climate leaders and was a recipient of the Sustainability Trailblazer award by Reuters Responsible Business in 2022. She will join the group on 1st March 2024.

“I would like to thank Alexandra for her engagement, which over the past 12 years has triggered a profound transformation of L’Oréal’s economic and societal model, deeply integrated with planetary boundaries as defined by environmental sciences,” said Nicolas Hieronimus, Chief Executive Officer, L’Oréal Groupe.“Her courage, energy and vision have enabled L’Oréal to become a pioneering enterprise, expert at delivering positive economic and extra-financial performance. The choice of Ezgi Barcenas, a recognized business and climate leader, to succeed Alexandra is a strong sign of L’Oréal’s reiterated commitment to its sustainability transformation and to social responsibility.”

About L’Oréal

For over 110 years, L’Oréal, the world’s leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 36 international brands and ambitious sustainability commitments in our L’Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.

With 87 400 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2022 theGroup generated sales amounting to 38.26 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4 000 scientists and 5 500 tech and digital professionals, L’Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.

More information on https://www.loreal.com/en/mediaroom

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This press release may contain forecast information. While the Company believes that these statements are based on reasonable assumptions as of the date of publication of this press release, they are by nature subject to risks and uncertainties which may lead to a discrepancy between the actual figures and those indicated or suggested in these statements.”

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