The board of directors of L'Occitane International S.A. announced that Mr. André Joseph Hoffmann wishes to step down from the positions of Chief Executive Officer and Vice-chairman of the Company after this financial year, with 31 March 2024 being his last day in these positions. Mr. Hoffmann's resignation from these positions will enable him to devote more time to his other business endeavors whilst continuing to focus on the strategic, policy and directive matters of the Company. The Board announced that Mr. Laurent Marteau will succeed Mr. Hoffmann as Chief Executive Officer of the Company on 1 April 2024.

In preparation for Mr. Hoffmann's departure, Mr. Marteau will shadow Mr. Hoffmann in his duties as Chief Executive Officer for the remainder of this financial year and they will both work alongside the Company's senior management team to help ensure a smooth transition. The biographical details of Mr. Marteau are set out below: Mr. Marteau, aged 46, is an executive director of the Company and the Group Managing Director, responsible for the overall management of the Company. Mr. Marteau joined the Group in September 2022.

He has over 20 years of experience in the global beauty industry, having worked for the LVMH Group for 15 years before joining La Prairie Group in 2014 as Vice President for Global Travel Retail & Special Channels and becoming a board member of La Prairie Group in the same year. In 2020, Mr. Marteau expanded his responsibilities and was made Vice President of La Prairie Group for Europe, the Americas, the Middle East and Africa. He graduated from IEP Lyon and EM Lyon Business School.

Mr. Marteau was nominated as a director candidate by the Board on 26 June 2023.