Lecture by Emmanuel Lulin Senior Vice President & Chief Ethics Officer

Big business and ethical conduct used to be held up as contradictory but, increasingly, more and more large companies are building their business on the basis of their reputation for integrity and ethical practices.

L'Oréal is convinced that in the 21st century, only companies that have integrated ethics in their culture, strategy and day-to-day practices will be sustainable.

”The L’ORÉAL Spirit”, that sums up L’ORÉAL’s commitment to act ethically and responsibly, based on four Ethical Principles - Respect, Integrity, Courage and Transparency - was presented by Mr. Emmanuel Lulin, Senior Vice-President & Chief Ethics Officer, L’ORÉAL, on Thursday February 9^th, during his open lecture at ALBA Graduate Business school. Mr. Lulin also explained that while compliance is important, if you get the ethical culture right, compliance will follow. This is core to L’Oréal’s business strategy.

The lecture was open to all ALBA students from various MSc and MBA Programs and academics. Those who attended the interactive lecture, were also presented with some difficult and real ethical dilemmas and were asked to debate on their decisions.

As Dr. Pavlos Vlachos, Academic Director of the ALBA MBA mentioned “The everyday decision-making of business leaders across the organizational hierarchy is increasingly loaded with moral consideration. Our Program was, is and will be committed to the study of business leaders’ (cognitive) moral development; our tangible learning goal is to develop mindful business leaders that understand the social and environmental implications of business and its crucial contributing role to social eudaimonia. True to our commitment we hosted an ethics speech by Emmanuel Lulin, Vice President and Chief Ethics Officer of L’Oréal worldwide. Mr. Lulin confirmed the soundness of the ALBA MBA commitment to the study of ethical dilemmas and shared several great insights on principles that should underlie their management. “

The lecture was part of the “Meet the Job Market” series of career events aiming to bring ALBA students in touch with the business world, organized by the School’s Career and Alumni Office.

About ALBA Graduate Business School at The American College of Greece

ALBA Graduate Business School was founded in 1992 and operates under the auspices of the business community, an association of corporations and institutional members, currently numbering 87. ΑLΒΑ, a not-for-profit organization, strives for excellence, quality and continuous innovation in research and teaching. The business school currently offers 3 MBA and 12 Master’s Programs. It is also leader of high-quality executive education in South-East Europe, meeting the needs of dozens of large corporate clients.

 About L’Oréal

L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 34 diverse and complementary brands, the Group generated sales amounting to 25.8 billion euros in 2016 and employs 89,300 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.

Research and innovation, and a dedicated research team of 3,870 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal’s sustainability commitment for 2020 “Sharing Beauty With All” sets out ambitious sustainable development objectives across the Group’s value chain. www.loreal.com

 About Ethics at L’Oréal

A company’s behavior is as important as its economic performance or the quality of its products. L'Oréal was built on strong ethical principles that guide its development and contribute to building its reputation: Integrity, Respect, Courage and Transparency. These principles are namely the foundation of the Group's policies in terms of compliance, responsible innovation, environmental stewardship, social and societal responsibility, and philanthropy. L’Oréal’s ambition is to be an exemplary company worldwide and integrate ethics into the very heart of its business practices.

• In 2000, L’Oréal was one of the first companies in France to establish a Code of Ethics and to appoint, in 2007, a Chief Ethics Officer.
• In 2008, L’Oréal’s Chairman and CEO, Jean-Paul Agon, received the prestigious Stanley C. Pace Leadership in Ethics Award.
• In 2014, L’Oréal launched the 3^rd edition of its Code of Ethics, which is now available in 45 languages and in Braille in English and in French, as well as a new ethics e-learning in 22 languages.
• In 2015, L’Oréal’s Senior Vice-President and Chief Ethics Officer, Emmanuel Lulin, received the prestigious Carol. R. Marshall Innovation in Ethics Award
• L’Oréal is a Global Compact LEAD company, one of the 100 companies included in the Global Compact 100 stock index, a signatory of the Women’s Empowerment Principles, an initiative of UN Women and the UN Global Compact and supports the United Nations Sustainable Development Goals
• L’Oréal organizes an annual Ethics Day where employees from around the world can chat online with L’Oréal’s Chairman and CEO and their country General Manager about ethics.

For more information on ethics at L’Oréal: http://www.loreal.com/group/governance/acting-ethically.aspx

About Emmanuel Lulin

Senior Vice-President & Chief Ethics Officer, L’ORÉAL

Emmanuel created the Office of the Group Chief Ethics Officer at L’ORÉAL in 2007. He joined L’ORÉAL in 1999 as Group General Counsel for Human Resources. Before joining L’ORÉAL, Emmanuel was admitted to the Paris Bar in 1988 and practiced as a corporate and tax attorney at Debevoise & Plimpton in Paris and New York. He holds a Master of Laws from U. of Chicago Law School and law degrees from Paris I (Panthéon-Sorbonne) and Paris II (Assas). In 1988, he was the Lavoisier laureate of the French Ministry for Foreign Affairs. Emmanuel serves on the Board of the Ethics Resources Center in the U.S, of the Cercle Ethique des Affaires in France and of the Global Compact France. He chairs the Global Council on Business Conduct (New York), and sits on the Ethics Committee of the MEDEF and of the French Agency for Development (Paris). Emmanuel represents L’ORÉAL in a number of international organizations including UN Global Compact, UN Women, Institute of Business Ethics (London), ICC Commission on Corruption. In 2012 and 2014, he was recognized by the Ethisphere Institute as a “Top Ethics & Compliance Officer”. In 2015, he was awarded the Carol R. Marshall Award for Innovation in Corporate Ethics by the Ethics & Compliance Initiative (ECI).