L'Oréal appoints Nestlé CEO Paul Bulcke, Nestlé's head of Food Strategic Business Christiane Kuehne and Jean-Victor Meyers to its board of directors

CLICHY, France , March 2, 2012 (press release) – * Appointment of Paul Bulcke, Christiane Kuehne and Jean-Victor Meyers as Board Directors
* Renewal of the tenures as Board Director of Jean-Pierre Meyers and Bernard Kasriel

L'Oréal's Board of Directors met today under the chairmanship of Jean-Paul Agon.

The tenures as Board Directors of Werner Bauer and Francisco Castañer Basco, both members of Nestlé's management, will expire following the 2012 Annual General Meeting. They have not requested the renewal of their tenures.

The Board of Directors expressed its appreciation for Werner Bauer's and Francisco Castañer Basco's active participation to the Board's work and that of its Committees.

Following the proposal by the Appointments and Governance Committee, the Board of Directors has decided to propose to the Annual General Meeting of Tuesday, April 17th, 2012:

* The appointment of three new Board Directors :

o Paul Bulcke, 58, a Belgian national, has been with Nestlé since 1979 and Chief Executive Officer since 2008. Paul Bulcke possesses an international experience, more particularly in Europe, in North America and in Latin America. He is Board Director of Nestlé and Roche Holding in Switzerland.

o Christiane Kuehne, 57, a Swiss national, has been with Nestlé since 1977 and heads the Food Strategic Business unit. Christiane Kuehne possesses an international experience, more particularly in Europe and in Asia.

o Jean-Victor Meyers, 25, studied economics and management in France and in the United States. Over the last two years, in the context of his professional experience, Jean-Victor Meyers spent several months with L'Oréal's divisions, in France and abroad. He is a member of the Supervisory board of Téthys, the Bettencourt family holding, since January 2011 and was coopted to L'Oréal's Board of Directors on February 13th, 2012.

* The renewal of the tenure as Board Director of Jean-Pierre Meyers which expires in 2012. Jean-Pierre Meyers has been Board Director of L'Oréal since 1987, Vice-Chairman of the Board of Directors since 1994, member of the Strategy and Sustainable Development Committee, the Audit Committee, the Appointments and Governance Committee and the Human Resources and Remuneration Committee. He is a member of the Supervisory Board and Chief Executive Officer of Téthys, Director of Nestlé and Vice-Chairman of the Board of Fondation Bettencourt Schueller.

* The renewal of the tenure as Board Director of Bernard Kasriel which expires in 2012. Bernard Kasriel has been Board Director of L'Oréal since 2004. Chairman of the Human Resources and Remuneration Committee and member of the Strategy and Sustainable Development Committee. He was previously Chief Executive Officer and Director of Lafarge and is currently Director of Arkema in France and Nucor in the US.

"This news release does not constitute an offer to sell, or a solicitation of an offer to buy L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.