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Byline: Rana Foroohar
In April Jean-Paul Agon takes over as CEO of L'Oreal with a hard act to follow. Briton Lindsay Owen-Jones has presided over 21 straight years of double-digit profit growth at the 14 billion euro company, which owns famous lines like Lancome and Maybelline. Can Agon match that record?
A lifer at L'Oreal, Agon took charge of the Asian division right before the financial crisis in 1998, yet built it into one of L'Oreal's fastest-growing divisions (sales in China last year were up 58 percent). He became president of L'Oreal USA in October 2001, and steered the division through the recession. He also nabbed 6 percent of the shampoo market with the relaunch of a formerly unknown brand, Fructis.
Still, the beauty business is getting ugly. Sales growth at L'Oreal is ...
Source: HighBeam Research, Beauty Gets Ugly; Jean-Paul Agon: He has a lot of experience in tough...