November 19, 2018 / 5:43 PM / a month ago

L'Oreal names new CFO and head of luxury cosmetics division

FILE PHOTO: The logo of French cosmetics group L'Oreal is seen on a sales counter at a department store in Paris April 20, 2015 REUTERS/Charles Platiau/File Photo

PARIS (Reuters) - French cosmetics firm L’Oreal (OREP.PA) on Monday said Chief Financial Officer Christian Mulliez was set to leave the firm next year for personal reasons and would be replaced by Christophe Babule, another company veteran.

Babule, who has been at the Maybelline owner since 1988 and most recently worked as the financial director for Asia Pacific, will take on operational responsibilities in February, L’Oreal said. Mulliez will leave L’Oreal at the end of April.

The company also named Cyril Chapuy as the head of its luxury division, which has spurred revenue growth in recent quarters. He takes over from Nicolas Hieronimus, seen as a potential successor to Chairman and CEO Jean-Paul Agon, and who was named deputy CEO in 2017.

(This story has been refiled to fix spelling of Chapuy in paragraph 3)

Reporting by Sarah White, Editing by John Irish and David Evans

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