L'Oréal said it plans to appoint Pablo Isla, chairman of Nestlé and former executive chairman of Inditex, as vice chairman, pending shareholder approval at its annual meeting on April 24.
The French cosmetics group said Nestlé, which owns a 20.1% stake in L’Oréal, nominated Isla and Anna Lenz for four-year terms as directors. Following the nominations, L’Oréal’s board said it intends to appoint Isla as vice chairman, a position he will share with Jean-Victor Meyers, effective after the meeting.
Isla led Inditex from 2011 to 2022 and served as its chief executive from 2005 to 2011. He became chairman of Nestlé in October. L’Oréal cited his ability to develop and execute a strategic vision combining international transformation and growth.
The announcement accompanied L’Oréal’s 2025 results. Revenue rose 1.3% to 44.05 billion euros ($46.1 billion), while net profit fell 4.4% to 6.13 billion euros ($6.4 billion), which the company attributed to exceptional taxes on large corporations in France aimed at reducing the public deficit.
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