L’Occitane CEO Laurent Marteau exits
L’Occitane Group has confirmed the departure of its Chief Executive Officer, Laurent Marteau.
Marteau joined L’Occitane Group in 2022 as Managing Director, taking on the role of CEO in January this year.
His resignation reflects his desire to focus more on his personal pursuits as well as other business interests.
The company's Board of Directors has established an Office of the Chief Executive, whose members will manage the company’s day-to-day operations in the interim.
The office consists of Reinold Geiger, Chairman and controlling shareholder of L’Occitane Group, as well as CFO Samuel Antunes and General Counsel Ingo Dauer.
It comes as the group focuses on transitioning to new management and corporate governance structures as it delists from the Hong Kong Stock Exchange.
The delisting process is progressing as planned and is expected to be completed by 16 October 2024.
Present in over 90 countries, the company owns various brands, including L'Occitane en Provence and Erborian.
It has also strengthened its portfolio over recent years by acquiring British skincare brand Elemis for $900 million in 2019 and taking a majority stake in Sol de Janeiro in 2021.
