The world's leading cosmetics group L'Oreal officially announced plans to appoint Stephane Rinderknech as its new China chief executive officer.
According to L'Oreal, Rinderknech joined the group's American tourism retail market unit in the US in 2001. After that, he was responsible for the development of high-end cosmetics business in Japan and South Korea. In 2011, Rinderknech was promoted to L'Oreal China vice president, leading high-end cosmetics business; and he started to command mass cosmetics division in 2015.
After taking the position of China CEO, Rinderknech will continue to lead the mass cosmetics division. At the same time, L'Oreal's former China CEO Alexis Perakis-Valat will stay in Shanghai as L'Oreal Group's vice president for Asia Pacific business.
Rinderknech is the third CEO of L'Oreal China, following Paolo Gasparrini and Alexis Perakis-Valat. Under the leadership of Gasparrini and Perakis-Valat, L'Oreal realized growth in the Chinese market for 19 consecutive years and China became the second largest market for the company in 2015.
L'Oreal is leading the Chinese market in various sectors, including women's skin care, cosmetics, men's skin care, mask, high-end cosmetics, and cosmeceutical.