Governance

The Board of Directors determines the company’s strategic orientations, oversees and monitors their implementation, and ensures sound management.

As of 31 December 2025, the Board of Directors comprised 17 members. Its composition is balanced: alongside the Chairman and the Chief Executive Officer, there are three Bettencourt Meyers family directors (one of whom serves as Vice-Chairman of the Board), together representing 34.79% of the capital; two directors from Nestlé (one of whom serves as Vice-Chairman of the Board), representing 20.16% of the capital; eight independent directors; and two employee representatives.

After 28 years on the Board, Françoise Bettencourt Meyers decided not to seek the renewal of her term of office, which expired in 2025. The strong and enduring bond between the founding Bettencourt Meyers family and L’Oréal remains an invaluable asset for the Group. It is maintained through the presence of Jean-Victor Meyers and Nicolas Meyers on the Board, as well as that of the family holding company, Téthys.

The Board’s composition ensures diversity in terms of backgrounds, nationalities, experience (both in France and internationally) and expertise relating to today’s major transformations (industry, new technologies, CSR, etc.).

The complementary nature of this expertise, combined with the directors’ independence of judgement and breadth of vision, is fundamental to the in-depth assessment of L’Oréal’s challenges. Together, the directors ensure that decisions contribute to the realisation of the Group’s major strategic orientations. They also ensure that sustainability, ethics and the corporate purpose (raison d’être) – all integral parts of L’Oréal’s growth model – remain constant priorities.

The Board met eight times in 2025. The Board Committees issue detailed, insightful and reasoned recommendations to inform the Board’s discussions and decisions.

As well as overseeing the Group’s economic and financial management, and conducting systematic, detailed reviews of activities and results, the Board collaborated with senior management in 2025 on subjects including transformation projects, strategic markets, longevity, the mid-term review of the L’Oréal for the Future programme and the decarbonisation plan.

Fully committed and highly active, the directors participate dynamically and diligently in the work of the Board and its Committees, driven by the conviction that rigorous governance creates value for the company and all its stakeholders.