Paris, 26th February 2001
Guy Peyrelongue, President and Chief Executive Officer of L'Oréal USA, who will be sixty-five in early 2002, has chosen to retire, with the full agreement of Lindsay Owen-Jones, Chairman and CEO of L'Oréal.
Guy Peyrelongue joined L'Oréal in 1973 as Managing Director of Gemey in France, and was subsequently Managing Director of L'Oréal Mexico from 1976 to 1983.
In 1983, Guy Peyrelongue was appointed Managing Director of L'Oréal for all the countries of the Latin America Zone.
In 1987, Guy Peyrelongue became the President of L'Oréal USA, developing the brands and activities of this Company to such an extent that the turnover more than quadrupled between 1986 and 2000.
Jean-Paul Agon will succeed Guy Peyrelongue as President and Chief Executive Officer of L'Oréal USA, next Autumn. Guy Peyrelongue will assist him, during the period of transition, until the end of the year.
Jean-Paul Agon, 44, joined the L'Oréal Group in Paris in 1978 and his career has been one hundred percent international.
Initially Managing Director of L'Oréal Paris in Greece, then in France, Jean-Paul Agon was appointed International Managing Director of Biotherm in 1989.
In 1994, Jean-Paul AGON became Managing Director of L'Oréal in Germany.
Since 1997, Jean-Paul Agon has been Managing Director of the Asia Zone for all the Group's activites : Salon Division, Consumer Products, Luxury Products, and Active Cosmetics.
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Mr. Lorrain KRESSMANN
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