L’Oréal Group has announced several important changes to its executive committee, with long-serving General Manager Travel Retail Worldwide Vincent Boinay named as President of the North Asia Zone and CEO of L’Oréal China.
Emmanuel Goulin will take the reins of the travel retail division as President and join the group’s executive committee.
Boinay is set to move to Shanghai in the near future ahead of assuming his new responsibilities in February 2024, while Goulin’s appointment is effective at the beginning of the year.
As the familiar and well-respected General Manager for Travel Retail Worldwide, Boinay has transformed the channel into a major growth contributor to the group.
He joined L’Oréal in 1992 as a marketing trainee in the luxury division before rising through the ranks in travel retail where he held a series of different commercial positions in Europe before being appointed as Deputy General Manager, Lancôme.
Following two years as Head of Luxury Travel Retail he was appointed General Manager of L’Oréal Luxe in Japan before ascending to General Manager for Travel Retail Worldwide in 2014, a position he has held since. He joined the executive committee in 2019.
Moves for Megarbane & Ma; Rozé to retire
L’Oréal Group CEO Nicolas Hieronimus commented: “Vincent is a strategic leader with a genuine love for the culture and people of the North Asia region. 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.
“He is a generous leader and a great team developer, with an openness and curiosity that have enabled him to build strong and lasting relationships with employees, customers and partners alike. I am convinced that he is the perfect choice to continue to build on our success in North Asia.”
Boinay’s successor Goulin, currently General Manager of L’Oréal Italy, joined the group in 2000 in the Luxe Division where he held a number of roles in the UK and Paris.
In 2008 he moved to Hong Kong to head up the travel retail business before being named Deputy General Manager of Shu Uemura in Japan.
Having returned to Europe in 2012, four years later he was named Managing Director Travel Retail – Asia Pacific Zone.
Under Goulin’s leadership sales have tripled in the past five years, says the group, with his time in Asia marked out by the strong development of local talent.
In 2021, he moved back to Europe and in 2022 was promoted to General Manager – L’Oréal Italy where he has presided over double-digit growth for nearly three years, adds the group, while improving employee engagement.
Hieronimus added: “Emmanuel is a young leader with a track record of developing winning teams and delivering strong results.
“He is direct, approachable, efficient and forward-looking with a commitment to transformation and sustainability, both highly appreciated by both teams and customers.
“I am delighted to have such an agile, empathetic and results-driven leader join the Group’s Executive Committee.”
Other changes include Fabrice Megarbane, currently Chief Executive Officer of L’Oréal China and President of the North Asia Zone, taking on the post of Chief Global Growth Officer, responsible for accelerating growth and leading transformation projects.
He succeeds Frédéric Rozé, who plans to retire at the beginning of next year after 38 years with the group.
L’Oréal has also created the new role of Deputy CEO in charge of L’Oréal China, with General Manager of L’Oréal Luxe China Laurence MA named in the newly created post, where he will take responsibility for L’Oréal’s three divisions while continuing to manage L’Oréal Luxe China.
His appointment is effective at the beginning of January 2024, while Megarbane will retain his current responsibilities until the end of January 2024.