Coty Inc on Thursday named former top executive of L'Oreal, Sue Nabi, as chief executive officer, its third CEO in this year, sending the shares of the cosmetics maker up about 4% in premarket trading.
L'Oreal 's Chairman and Chief Executive Jean-Paul Agon said on Tuesday he expected the cosmetic group's nominations committee to propose a candidate to succeed him by the autumn as his mandate expires.
Purchases of cosmetics have picked up strongly again, particularly in China, as some countries exit coronavirus shutdowns that forced hair salons and retailers to close, L'Oreal Chief Executive Jean-Paul Agon said.
L'Oreal aims to cut out non-recycled plastic packaging by 2030 and bring in greener products like solid shampoo bars under its flagship Garnier brand as it steps up an environmental push, it said on Thursday.
Cosmetics group L'Oreal said on Tuesday it was launching a 150 million-euro programme of climate change initiatives and financial aid to support vulnerable women hit hard during the coronavirus pandemic.
The partnership will see the launch of eight custom-branded, augmented reality [AR] lenses from L’Oréal brands like Garnier, Lancôme, L’Oréal Paris, and Maybelline, featured in a dedicated beauty area on Snap Camera.
L’Oreal said it is counting on consumers rushing back to hair salons to help its business recover quickly once European and U.S. Covid-19 lockdowns are lifted, adding that beauty sales were bouncing back in China.