By Giulia Petroni

L'Oreal SA said Wednesday that Nicolas Hieronimus would succeed Jean-Paul Agon as chief executive effective May 1, 2021.

"As the company's articles of association do not provide for any exception to the legal retirement age of 65 years, Jean-Paul Agon must hand over his duties as chief executive officer before July 2021," it said.

The French cosmetics and consumer-products company said the board plans to renew Mr. Agon's mandate as chairman, a position he's held since 2011.

It added that it would appoint Barbara Lavernos, who will lead research, innovation, technology from February 2021, as deputy CEO on May 1, 2021.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

October 14, 2020 12:35 ET (16:35 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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