The L’Occitane Group announced on Tuesday, September 17, the resignation of Laurent Marteau from his positions as Chief Executive Officer and Board member, effective from September 16, 2024.
“Mr. Marteau’s resignation reflects his desire to focus more on his personal pursuits as well as other business interests,” said L’Occitane in a statement.
Transition period
A transitional management team has been set up by the board of directors in the form of an “Office of the Chief Executive” has been established by the Board to manage the company’s day-to-day operations. This office consists of Reinold Geiger, Chairman and controlling shareholder of the L’Occitane Group; Samuel Antunes, Group Chief Financial Officer; and Ingo Dauer, Group General Counsel.
The CEO’s resignation comes as the group is currently delisting from the Hong Kong Stock Exchange. The process is expected to be completed by 16 October 2024, as initially planned.
As part of this delisting, the group is focusing on transitioning to new management and corporate governance structures, in particular, with the aim of ensuring the succession of Reinold Geiger, aged 77.
The L’Occitane Group portfolio consists of premium beauty and perfume brands: L’Occitane en Provence, Melvita, Erborian, L’Occitane au Brésil, LimeLife, Elemis, Sol de Janeiro and Dr. Vranjes Firenze.
