L'Occitane International S.A. announced that Ms. Valérie Irène Amélie Monique Bernis has tendered her resignation as an independent non-executive Director, with effect from 1 January 2023. Together with Ms. Bernis' resignation from Board, she will also step down from her positions as member of the audit committee of the Company, nomination committee of the Company (the ``Nomination Committee'') and sustainability committee of the Company . In light of Ms. Bernis' departure, the Board wishes to welcome Mrs. Christèle Hiss Holliger who will fill in the vacant seat on the Board and act as new independent non-executive Director, with effect from 1 January
2023. Mrs. Hiss Holliger, aged 50, has extensive experience in asset management and client relationship, and in people management. She is currently the Global Head of Human Resources for the Pictet Group, managing teams in Switzerland, Asia, London, Luxembourg and Nassau. She is also a member of the Pictet Group Executive Committee and a director of Bank Pictet SA board of directors. She moved to a Human Resources role in 2017 after a 20-year career in asset management and client relationship, with the intention to position Human Resources as a strategic partner to the business. Prior to that, she was the chief executive officer of Pictet Asset Management (Singapore) Pte Ltd, overseeing its activities in Singapore and responsible for Southeast Asian institutional clients. Before relocating to Singapore, she was Head of Institutional Clients in Geneva, managing a team of client relationship managers and covering strategic institutional clients. Mrs. Hiss Holliger became the first female Equity Partner of the Pictet Group in 2016 and was a strong advocate for diversity & inclusion initiatives. Mrs. Hiss Holliger graduated in 1992 with a Master of Science Degree in Business Management from EDHEC Business School (France) and obtained the Federal Diploma for Financial Analyst and Portfolio Manager (CIIA/CFPI, Switzerland) in 1997. Mrs. Hiss Holliger has entered into a letter of appointment with the Company for a term of three years with effect from 1 January 2023, subject to retirement by rotation and re-election in accordance with the Listing Rules and the Company's articles of association. Mrs. Hiss Holliger is entitled to an annual director's fee of 25,000, and additional emolument for serving the committees of the Board. Such remuneration is determined with reference to the Company's current terms and policies, as well as the prevailing market conditions. The Board further announces that following the resignation of Ms. Bernis and the appointment of Mrs. Hiss Holliger as an independent non-executive director, the changes in composition of the Board committees are as follows: Audit Committee; Ms. Bernis will resign as a member and Mr. Thomas Levilion will be appointed as a member of the Audit Committee. Remuneration Committee; Mr. Jackson Chik Sum Ng will resign as the chairman and Mr. Charles Mark Broadley will resign as a member of the remuneration committee of the Company. Mrs. Hiss Holliger will be appointed as the chairwoman and Ms. Betty Liu will be appointed as a member of the Remuneration Committee. Nomination Committee; Ms. Bernis and Mr. André Hoffmann will resign as members and Ms. Liu and Mrs. Hiss Holliger will be appointed as members of the Nomination Committee. Sustainability Committee; Ms. Bernis will resign as a member and Ms. Liu and Mrs. Hiss Holliger will be appointed as members of the Sustainability Committee.