L'Oreal CEO foresees no changes in the shareholding of the company

L‘Oreal Chief Executive Jean-Paul Agon said on Friday he did not foresee changes in the shareholding structure of the French cosmetics group following the death of major shareholder Lillian Bettencourt last month.

Asked whether the company’s shareholding structure was likely to change in the coming months, Agon said: “Nothing has changed...I do not foresee changes in the shareholding of L‘Oreal,”

The death of billionaire Bettencourt raised questions over how L‘Oreal’s founding family and major shareholder Nestle would manage their stakes in the world’s biggest cosmetics firm.

Bettencourt’s family owns 33 percent of L‘Oreal. Nestle retains a 23 percent stake in the company.

Agon would not say if there were discussions ongoing with Nestle.