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L’Oréal has just announced that Chairman and Chief Executive Officer Jean-Paul Agon will be succeeded by Nicolas Hieronimus as Chief Executive Officer.
Hieronimus, who has been Deputy CEO in charge of Divisions since 2017, joined L’Oréal 33 years ago and has spent all his career with the Group, in many countries and divisions, says the announcement.
Barbara Lavernos, who will lead Research, Innovation, Technology from February 2021, will be appointed Deputy CEO on May 1, 2021.
According to L’Oréal’s articles of association, Agon may not remain as CEO past the legal retirement age of 65 years, and must hand over his duties as Chief Executive Officer before July 2021. However, the L’Oréal Board of Directors announced its intention to dissociate the functions of Chairman and Chief Executive Officer, and are renewing Jean-Paul Agon’s mandate as Chairman, a position he has held since 2011.
VIRTUAL TR EXPO
One more comment before we commence with the news. It is now Day 3 of the inaugural Moodie Davitt Virtual TR Expo and if you have not checked it out yet, please try to get over there. While the event cannot replace the real Cannes, it is informative, engaging and fun. Some of the virtual stands — as well as the whole virtual environment — are creative marvels.
There are workshops, panel discussions, virtual experience centers and more for every category. One of my favorite elements is the “visitor” button that shows you who else is the “room” with you. It is “almost” like really being there, and I have connected with several people in this way. Anecdotally, I am hearing that meetings are productive and going well. One exhibitor told us that he has more than 40 high-level meetings scheduled. Another company posted on social media that a few hundred visitors had come to the stand, although one exhibitor said most visitors are just browsing.
I presume there is a significant curiosity factor in play, but I am honestly very impressed. There is even a Virtual Press Room – that contains Travel Markets Insider –as well as a Networking Lounge and Virtual Bar. If you can, do go take a look.
Now to the News.
Cruise industry leaders finally had their meeting with the White House coronavirus task force last Friday, albeit in virtual form. The Oct. 9 meeting took place via a call with Vice President Mike Pence and his team and the CEOs from the largest cruise companies in an effort to get the industry operating again. See full story on page 1.
100 destinations have now qualified for the World Travel & Tourism Council’s “Safe Travels” stamp. The most recent additions include Peru, the Bahamas and Puerto Rico. Page 1.
IN THE BOARD ROOM
Dufry is taking a giant step in China through a Joint Venture with Alibaba. The world’s largest airport travel retailer now intends to become the first “global travel retail digital company,” says Dufry CEO Julian Diaz. Page 2.
Investment firm Davidson Kempner acquires cruise retailer Harding from Flemingo. Page 2.
AWARDS AND ACCOLADES
2020 Frontier Awards celebrate commitment and hard work across the industry despite the COVID crisis. DFNI and Frontier held the renowned award ceremony virtually on September 30. See the winners on page 3.
TFWA announces new Management Committee members. Page 3.
L’Oréal honored winners of the Nobel Prize for Chemistry. Professor Emmanuelle Charpentier and Professor Jennifer A. Doudna, who last week were awarded the Nobel Prize in Chemistry for the development of a revolutionary method of genome editing, were both Laureates of the L’Oréal-UNESCO For Women in Science International Awards in 2016. See more details on page 1.
Display management company Concourse has joined a consortium of global experts in healthcare, technology and manufacturing that have launched a rapid testing initiative called vitacheck in travel retail. Read more on page 4.
Bombay Sapphire launches Bombay Bramble. Page 4.
Elixir Distillers enters Travel Retail with two unique boutique brands. Page 4.