CLICHY (dpa-AFX) - Cosmetics and beauty products giant L'Oreal Co. (LRLCY.PK) said that its Annual General Meeting adopted all the proposed resolutions. It approved the parent company financial statements and the consolidated financial statements for 2020. It also approved a dividend of 4 euros per share.
Meeting after the Annual General Meeting, the Board of Directors decided to dissociate the functions of Chairman of the Board of Directors and Chief Executive Officer. Mr Jean-Paul Agon will continue to fulfil the role of Chairman of the Board of Directors as he has done since 2011 and Mr Nicolas Hieronimus is appointed Chief Executive Officer as of 1st May 2021.
Moreover, the Board of Directors has decided, on the basis of the resolution voted by the Annual General Meeting, to repurchase L'Oréal shares for a maximum amount of 1.2 billion euros and a maximum number of 3 million shares, during the period starting 3 May which may extend until 30 June 2021. All the shares bought back will be cancelled.
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