Interview with Sir Lindsay Owen-Jones, Chairman of L’Oréal
The Chairman’s role
How Sir Lindsay Owen-Jones views his role as Chairman
“As for my own new position, I am focusing my efforts on good corporate governance and the Group's growth strategy. In a Board of Directors whose debates are of high quality, and whose decisions are taken collectively, my experience enables me to contribute actively to choices about the main directions the Group should take.
It is my job to coordinate interaction with the General Management so as to suggest new strategic approaches. Together, with Jean-Paul Agon and the support of the Board of Directors, we take the key decisions which constitute our commitments for the future, just as we did for the acquisition of The Body Shop. We do so in a spirit of complete and reciprocal confidence, both to ensure continuity and to further the Group's interests. Continuity in our values and the principles that guide our actions, such as respect for ethical principles, diversity, respect for the environment and caring for communities. These values help to make L'Oréal a well known and respected group. Continuity in our people is also important, for it is their creativity and responsiveness which enable the implementation of our long-term strategy.” Sir Lindsay Owen-Jones said in an excerpt from the 2006 Annual Report.
The definition of roles in the 2006 Annual Report devoted to management methods
In 2006, the Board of Directors decided to divide the duties of Chairman and CEO. With a clear definition of each person’s responsibilities, this division of power enables the company to both:
- Ensure greater continuity in the Group’s strategic vision
- Provide fresh impetus to the Group’s business activities
The Chairman leads and organises the Board’s work, on which he provides reports at the Annual General Meetings. He actively contributes to the definition of the company’s growth strategy, making sure that it continuously strengthens and encourages ties with the key players in today’s economy. He keeps a watchful eye on the company’s internal functioning and in particular ensures that the administrators are able to fulfil their role. He can ask to see any document or specific information that could help prepare the Board for more productive meetings. The Chairman of the Board makes every effort to promote the company’s values and generate a positive image for the company in all circumstances. He is given every means necessary to accomplish his various tasks.
“As for my own new position, I am focusing my efforts on good corporate governance and the Group's growth strategy. In a Board of Directors whose debates are of high quality, and whose decisions are taken collectively, my experience enables me to contribute actively to choices about the main directions the Group should take.
It is my job to coordinate interaction with the General Management so as to suggest new strategic approaches. Together, with Jean-Paul Agon and the support of the Board of Directors, we take the key decisions which constitute our commitments for the future, just as we did for the acquisition of The Body Shop. We do so in a spirit of complete and reciprocal confidence, both to ensure continuity and to further the Group's interests. Continuity in our values and the principles that guide our actions, such as respect for ethical principles, diversity, respect for the environment and caring for communities. These values help to make L'Oréal a well known and respected group. Continuity in our people is also important, for it is their creativity and responsiveness which enable the implementation of our long-term strategy.” Sir Lindsay Owen-Jones said in an excerpt from the 2006 Annual Report.
The definition of roles in the 2006 Annual Report devoted to management methods
In 2006, the Board of Directors decided to divide the duties of Chairman and CEO. With a clear definition of each person’s responsibilities, this division of power enables the company to both:
- Ensure greater continuity in the Group’s strategic vision
- Provide fresh impetus to the Group’s business activities
The Chairman leads and organises the Board’s work, on which he provides reports at the Annual General Meetings. He actively contributes to the definition of the company’s growth strategy, making sure that it continuously strengthens and encourages ties with the key players in today’s economy. He keeps a watchful eye on the company’s internal functioning and in particular ensures that the administrators are able to fulfil their role. He can ask to see any document or specific information that could help prepare the Board for more productive meetings. The Chairman of the Board makes every effort to promote the company’s values and generate a positive image for the company in all circumstances. He is given every means necessary to accomplish his various tasks.