End of an era for L'Oreal as Owen-Jones steps down

0 Comments | AFP, April, 2006

PARIS (AFP) — French cosmetic firm L'Oreal's British chief executive Lindsay Owen-Jones hands over the helm Tuesday at the end of an 18-year reign marked by an uninterrupted growth in performance.

One of the major symbols of France's style and chic will once more have a Frenchman in charge in the shape of Jean-Paul Agon, who faces a hard act to follow but has already shown he intends to do things a little differently.

Named as L'Oreal's next boss back in February last year, Agon, who will turn 50 in July, has spent his whole career with the company, and most recently ran its US operations.

Owen-Jones, known to all as OJ, will stay on as non-executive president of the firm after handing over a group that has seen fundamental changes to emerge at the head of...