Organizational Strategy - Sustainable Development - L'Oréal

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4 L’OréaL - GrI DaTa SHEETS 2011 I. CONTENTS 4.1 Governance structure of the organization, including committees under the highest governance body responsible for specific tasks, such as setting strategy or organizational oversight. 4.2 Indicate whether the Chair of the highest governance body is also an executive officer (and, if so, their function within the organization’s management and the reasons for this arrangement). 4.3 For organizations that have a unitary board structure, state the number of members of the highest governance body that are independent and/or non-executive members. 4.4 Mechanisms for shareholders and employees to provide recommendations or direction to the highest governance body. 4.5 Linkage between compensation for members of the highest governance body, senior managers, and executives (including departure arrangements), and the organization’s performance (including social and environmental performance). 4.6 Processes in place for the highest governance body to ensure conflicts of interest are avoided 4.7 Process for determining the qualifications, and expertise of the members of the highest governance body for guiding the organization’s strategy on economic, environmental, and social topics. 4.8 Internally developed statements of mission or values, codes of conduct, and principles relevant to economic, environmental, and social performance and the status of their implementation. 4.9 Procedures of the highest governance body for overseeing the organization’s identification and management of economic, environmental, and social performance, including relevant risks and opportunities, and adherence or compliance with internationally agreed standards, codes of conduct, and principles. Governance, Commitments and Engagement 1/13 4.10 Processes for evaluating the highest governance body’s own performance, particularly with respect to economic, environmental, and social performance. 4.11 Explanation of whether and how the precautionary approach or principle is addressed by the organization. 4.12 Externally developed economic, environmental, and social charters, principles, or other initiatives to which the organization subscribes or endorses. 4.13 Memberships in associations (such as industry associations) and/or national/international advocacy organizations in which the organization: • has positions in governance bodies; • participates in projects or committees; • provides substantive funding beyond routine membership dues; • views membership as strategic. 4.14 List of stakeholder groups engaged by the organization. Examples of stakeholder groups are: • Civil society; • Customers; • Employees, other works, and their trade unions; • Local communities; • Shareholders and providers of capital; and • Supplier. 4.15 Basis for identification and selection of stakeholders with whom to engage. 4.16 approaches to stakeholder engagement, including frequency of engagement by type and by stakeholder group. 4.17 Key topics and concerns that have been raised through stakeholder engagement, and how the organization has responded to those key topics and concerns, including through its reporting.
4 L’OréaL - GrI DaTa SHEETS 2011 II. STATE OF THE L’ORÉAL’S POLICY IN 2011 4.1 STRATEGY AT THE HEART OF DISCUSSION The Board of Directors is responsible in particular for ensuring that all measures have actually been taken to enable the harmonious deployment, on a sound, solid basis, of the strategy conceived and implemented by the Executive Committee after it has been approved. Board Meetings are prepared by four very active committees: the Strategy and Sustainable Development Committee, the audit Committee, the Human resources and remuneration Committee and the appointments and Governance Committee. This year, the strategic approach has been scrutinised even more closely in the Board’s work, as regards developing brands, countries and markets where the group operates. The Board is also very concerned by major developments in research & Innovation which is at the heart of the group’s strategy. In 2011, the Board devoted an entire day to visiting one of its laboratories. research & Innovation and creativity are absolutely fundamental in its business, in accordance with the standards of quality, safety and efficacy and seeking performance for consumers, wherever they are in the world. A REMIT IN PHASE WITH TOMORROW’S ISSUES The Strategy and Sustainable Development Committee has extended its remit to scrutinising commitments made as regards sustainable development. This year the Committee had a very precise statement of those commitments: to ensure sustainable economic growth by making beauty universal, building a human model valuing the diversity of staff, always behaving ethically and responsibly, developing new routes as regards sustainable consumption and lastly sharing the benefits of the Company’s development through public spirited actions. COMPOSITION OF THE BOARD OF DIRECTORS AT 31 DECEMBER 2011 The Board of Directors consists of 14 members. United and well balanced, notably with three directors who are members of the Bettencourt family, successors of the founder Eugène Schueller, three directors from Nestlé, also a major shareholder, and six independent directors. It is totally committed to working for L’Oréal’s development. Every director offers an original view and unique expertise, acquired over the course of an eminent career, most often international. This summary of talent and experience favours the dynamic, constructive discussion on which Senior Management and the Executive Committee can count to support the implementation of group strategy. Jean-Paul Agon (1) aged 55. Chairman and Chief Executive Officer of L’Oréal, director since 2006, his term of office was renewed in 2010. Director of air Liquide. Sir Lindsay Owen-Jones aged 66. British national. Honorary Chairman of L’Oréal, director since 1984, his term of office was renewed in 2010. Director of Sanofiaventis and Ferrari (Italy). (2) (5) (6) (8) Jean-Pierre Meyers aged 63. Director of L’Oréal since 1987, his term of office was renewed in 2009 (9) , Vice-Chairman of the Board of Directors. Director of Nestlé ITS (Switzerland). (2) (5) (6) Peter Brabeck-Letmathe aged 67. austrian national. Chairman of the Board of Directors of Nestlé. Director of L’Oréal since 1997, his term of office was renewed in 2009, Vice-Chairman of the Board of Directors. Vice-Chairman of the Board of Directors of Crédit Suisse group (Switzerland), Director of Delta Topco Limited (Jersey) and Exxon Mobil (United States). Liliane Bettencourt (2) aged 89. Daughter of Eugène Schueller, founder of L’Oréal. Director since 1995, her term of office was renewed in 2011. Françoise Bettencourt Meyers aged 58. Daughter of Mrs. Bettencourt. Director since 1997, her term of office was renewed in 2009. Werner Bauer aged 61. German national. Chief Executive of Nestlé. Director of L’Oréal since 2005, his term of office was renewed in 2009 (9) . (2) (8) Francisco Castañer Basco aged 67. Spanish national. Former Chief Executive of Nestlé. Director of L’Oréal since 1998, his term of office was renewed in 2010 (9) . (6) (7) Charles-Henri Filippi aged 59. Former Chairman and Chief Executive of HSBC France. Director of L’Oréal since 2007, his term of office was renewed in 2011 (9) . Director of France Telecom, member of the Supervisory Board of Euris and Non-Voting Board Member of Nexity. 2/13
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