L'Occitane has officially announced the departure of its CEO. Laurent Marteau left the group on 16 September and explained that he will now focus on ‘other professional interests’. Marteau's resignation coincides with the company's decision to delist from the Hong Kong Stock Exchange.
Marteau's departure has forced the company to restructure its organisation, with Reinold Geiger taking over as group chairman, Samuel Antunes as chief financial officer and Ingo Dauer as group chief legal officer to fill the executive's position on an interim basis. Marteau took over the company just two years ago, after having led the French cosmetics group La Prairie.
L'Occitane officially delisted from the Hong Kong stock exchange in July, effective 7 August. L'Occitane's main shareholder initiated a process last April to take over the remaining 27.4% of the company that it did not yet control.
The company explained in its press release that his departure marks a period of transition for the group and that it is focusing on a new governance structure with this interim leadership that will help maintain the group's stability.
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