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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  L'Oréal    OR   FR0000120321

L'ORÉAL

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L'Oreal : Beiersdorf to appoint De Loecker CEO in December - manager magazin

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09/20/2018 | 09:22am EDT
FILE PHOTO: Nivea tins are seen on a production line at the plant of German personal-care company Beiersdorf in Hamburg

BERLIN (Reuters) - Beiersdorf, the maker of Nivea lotions, will appoint current deputy chief executive Stefan De Loecker as CEO effective from December, German monthly manager magazin reported on Thursday.

The company had said in June that CEO Stefan Heidenreich, 55, would step down when at the end of 2019 or earlier, depending on when a successor was selected.

At that time, De Loecker, 51, was named deputy CEO and commissioned with the development of Beiersdorf's strategy.

Beiersdorf declined to comment on the manager magazin article.

Heidenreich took over as CEO in April 2012 at a time when Beiersdorf was losing market share to rivals such as L'Oreal and profit margins were falling.

Under his leadership the group has regained market share, introduced a new Nivea logo as part of his Blue Agenda strategy, focussed on emerging markets and stripped out underperforming product lines.

De Loecker, a Belgian, presented the first results of his strategy plan to the supervisory board this month, the magazine said. He is to be named Heidenreich's successor before the Christmas holidays, it said.

(Reporting by Jan Schwartz; writing by Riham Alkousaa; editing by Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
BEIERSDORF AKTIENGESELLSCHAFT 0.05% 110 Delayed Quote.20.67%
L'ORÉAL 1.30% 233.3 Real-time Quote.15.95%
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Sales 2019 29 508 M
EBIT 2019 5 473 M
Net income 2019 4 217 M
Finance 2019 3 387 M
Yield 2019 1,81%
P/E ratio 2019 30,6x
P/E ratio 2020 28,1x
EV / Sales2019 4,32x
EV / Sales2020 4,02x
Capitalization 131 B
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Mean consensus HOLD
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Average target price 244,53  €
Last Close Price 233,30  €
Spread / Highest target 26,9%
Spread / Average Target 4,82%
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