L'Oréal Singapore and Malaysia are joining forces to form a bigger organisation, effective 1 July, its spokesperson told MARKETING-INTERACTIVE. According to the spokesperson, the joining of forces will enable the company to "prepare for the future and best position [it] to tap new opportunities" emerging from the shifts in the rapidly transforming beauty landscape. Alongside this change, Tomas Hruska (pictured right) has been appointed GM to lead both markets and oversees the transition efforts immediately. His appointment comes as Malek Bekdache left his role as MD of Malaysia recently after six years.
"This new operating model combines the strength of Singapore and Malaysia to better serve our consumers in both markets, while allowing us to further invest in capabilities for new consumer attraction. Under the new set-up we will maintain and enhance our strong local proximity while deepening our functional expertise," the spokesperson added. L'Oréal declined to comment further on MARKETING-INTERACTIVE's queries.
Hruska was recently GM for the Nordics Hub and has more than 20 years of experience within the group. According to the spokesperson, he has "seized upon all strategic transformation opportunities to evolve the organisation with people at the heart of change and growth". He is also widely respected for his great people skills, leadership and proximity to teams, the spokesperson said.
Meanwhile, MARKETING-INTERACTIVE understands that there will be no senior leadership changes in the marketing team and in the agencies that L'Oréal is working with in Singapore and Malaysia. The new Malaysia-Singapore organisation is headquartered in Malaysia, with teams located in both Malaysia and Singapore. This is alongside L’Oréal’s presence in Singapore with SAPMENA, APAC TR, research and innovation and L'Oréal international distribution. SAPMENA was formed last year with Singapore being the designated headquarters. The brand is currently working with Publicis Media for performance duties in Malaysia, Singapore and Thailand, and Zenith's OneL’Oréal team in Malaysia for media planning and buying duties.
Meanwhile, L'Oréal appointed Abhishek Grover as its chief digital officer, consumer products division for SAPMENA reporting to chief digital and marketing officer Shelly Chiang and GM, consumer products division Manashi Guha. He was previously head of digital marketing group at Samsung Southeast Asia and Oceania.
Earlier last month, L’Oréal also launched its third Employee Share Ownership Plan. The plan will be rolled out in 63 countries and will give L’Oréal employees the possibility to be even more closely linked to the Group’s development.
For this third plan, Nicolas Hieronimus, CEO of L’Oréal, said: “After the success of the first two operations in 2018 and 2020, which enabled some 30,000 employees to demonstrate their commitment and confidence in the future growth and values of our Group, we are again pleased to offer them this year another opportunity to strengthen their link with L’Oréal’s future financial and extra-financial success. This third Employee Share Ownership Plan is a new opportunity to allow those who wish to do so to join a great collective adventure and participate in a common project, our sense of purpose: Create the beauty that moves the world.”
The share purchase price was set on 3 June 2022. It will be equal to the average of the opening price of L’Oréal shares on the Euronext Paris exchange over the twenty trading days preceding the decision, after a 20% discount. The plan is limited to 500,000 shares (including employer contribution).
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