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Patrice Louvet

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Patrice Louvet
Born1964
Saint-Cloud, France
Alma materESCP
University of Illinois
OccupationBusiness executive
Years active1989-present
EmployerRalph Lauren
Board member ofBacardi Limited

Patrice Louvet (born 1964) is a French-born business executive based in New York City.[1][2] The CEO and president of the Ralph Lauren Corporation[3][4][5] since July 2017,[6][7][4] he began his career at Procter & Gamble (P&G) in 1989,[8] where he held numerous executive roles across Northeast Asia,[9] North America, and Europe.[10] In 2015[9] he became group president of P&G's global beauty[11] and hair care units,[12] a role he held until June 2017.[1] He is on the board of Bacardi Limited.[8]

Early life and education

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Patrice Jean Louis Louvet[9] was born in 1964[1] in Saint-Cloud, France.[2] He spent four years of his childhood in Princeton, New Jersey with his family as a result of his father heading the U.S. subsidiary of a French chemical company.[1] In 1986,[9] Louvet graduated from ESCP Europe with a master's degree in business administration (MBA) and earned a second MBA[8] from the University of Illinois in 1987.[1] During his graduate studies, he served as a marketing professor for undergraduate students and authored the book Overcoming Barriers to Entering the US Market.[10] From 1987 until 1989, he briefly served as a naval officer and aide-de-camp to an Admiral in the French Navy.[1]

Career

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1989-2010

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In 1989, Louvet joined P&G's marketing department in France[8] and was appointed marketing director for Pantene's global franchise[1] in Cincinnati, Ohio[13] ten years later. In 2002,[12] he moved to Japan[10] to become P&G's general manager for health care and hair care in northeast Asia,[9] returning to North America[10] to spend four years in P&G's hair colorant division.[14] In 2005,[12] he became vice president of global hair colorants, running the Clairol[15] and Wella brands from Stamford, Connecticut.[10]

In March[12] 2008 he transferred to Geneva, Switzerland[10] as vice president of future strategy and growth for the global prestige products unit of P&G. From 2010[16] to 2011, he was president of the unit, overseeing fragrances,[14] skin care, cosmetics, hair care, and grooming,[10] with brands such as Gucci, Dolce & Gabbana, Hugo Boss,[8] Rochas,[17] and Lacoste.[1]

2011-2017

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In 2011, Louvet was named president of global shave care for P&G,[12] overseeing Gillette Company,[9] and two years later group president of global grooming[1] and shaving.[8] The role gave him oversight of the company's grooming brands, including Braun electric razors, Venus razors,[1] and the global Gillette shaving business.[8]

In 2015, P&G appointed Louvet[1][18] to group president of the company's global beauty[11] and hair care units.[12] Louvet remained in this role following Coty Inc.'s acquisition of P&G's perfume, hair care and make-up US businesses in July 2015.[14] In this role, he oversaw 12 brands in the global beauty unit, including Head & Shoulders, Pantene,[3] Olay,[19] and Old Spice, which generated about $11.5 billion in combined revenue in 2016.[2] By early 2017, Louvet had worked in six of P&G's 10 product categories.[1]

2017-present

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In May 2017, the Ralph Lauren Corporation selected Louvet as its future CEO and president, effective July.[7][4] Louvet also joined the board in July.[3] Louvet became the third appointed CEO in the history of the company. Founder Ralph Lauren stepped down as CEO in 2015 and remains as executive chairman and chief creative officer. Stefan Larsson became CEO in 2015,[2][7][13] but after he announced his resignation in February 2017,[18] chief financial officer Jane Nielsen was appointed interim chief CEO[5] on May 1[18] while the company searched for a successor.[5]

Louvet stated plans to retire from P&G on June 30,[1] with P&G saying it would name a successor to lead its beauty division at a later time.[2] As the new Ralph Lauren CEO, Louvet reports to executive chairman and creative director Ralph Lauren[2][1][5] and the company's board of directors.[18] Lauren stated that he was "thrilled"[3] about "finding the right partner to work with me," citing Louvet's "collaborative working style, transformation experience and intense focus on results."[19]

In 2023, Louvet's total compensation from Ralph Lauren was $14.5 million.[20]

Other activities

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Personal life

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As of May 2017, Louvet is based in the New York metropolitan area.[2] He and his wife Christine have two children.[1]

See also

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References

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  1. ^ a b c d e f g h i j k l m n o Brunsman, Barrett J. (May 17, 2017). "P&G President Named CEO of Ralph Lauren". Cincinnati Business Courier. Retrieved May 18, 2017.
  2. ^ a b c d e f g Tweh, Bowdeya (May 17, 2017). "Ralph Lauren Taps Procter & Gamble Executive Patrice Louvet as Its Next CEO". Wall Street Journal. Retrieved May 18, 2017.
  3. ^ a b c d Cavale, Siddharth (May 17, 2017). "Ralph Lauren names P&G executive Patrice Louvet as CEO". Reuters. Retrieved May 18, 2017.
  4. ^ a b c Badkar, Mamta (May 17, 2017). "Ralph Lauren appoints P&G exec Patrice Louvet as new CEO". Financial Times. United Kingdom. Retrieved May 18, 2017.
  5. ^ a b c d Melin, Anders; Hoi-Nga Wong, Stephanie (May 17, 2017). "Ralph Lauren Names P&G Veteran Patrice Louvet as Next CEO". Bloomberg. Retrieved May 18, 2017.
  6. ^ Haapaniemi, Peter (July 26, 2017). "Ralph Lauren Reaches Across Industry Boundaries for a New CEO". Chief Executive. Retrieved August 5, 2017.
  7. ^ a b c Wahba, Phil (May 17, 2017). "Ralph Lauren Names P&G Beauty Exec Patrice Louvet As New CEO". Fortune. Retrieved May 18, 2017.
  8. ^ a b c d e f g h "Two new directors elected to Bacardi board". The Royal Gazette. July 17, 2012. Retrieved May 24, 2017.
  9. ^ a b c d e f "Patrice Jean Louis Louvet". Bloomberg Businessweek. Retrieved May 23, 2017.
  10. ^ a b c d e f g "Patrice Louvet - President". Gillette.com. Retrieved May 24, 2017.
  11. ^ a b Reingold, Jennifer (January 21, 2015). "Exclusive: Big moves at P&G as Taylor up, Henretta sideways". Fortune. Retrieved May 24, 2017.
  12. ^ a b c d e f g Patrice Louvet - Group President, Global Beauty (PDF), Procter & Gamble, July 2015, retrieved May 24, 2017
  13. ^ a b Noto, Anthony (May 17, 2017). "Ralph Lauren names new CEO amid tumultuous time". New York Business Journal. Retrieved May 24, 2017.
  14. ^ a b c Coolidge, Alexander (October 22, 2014). "P&G CEO contender, others out amid reshuffle". The Cincinnati Enquirer / USA Today. Retrieved May 24, 2017.
  15. ^ "Teri Hatcher stars in hair color ad campaign". The Augusta Chronicle and the Associated Press. September 13, 2005. Retrieved May 24, 2017.
  16. ^ Fulwell, Jonathan (May 9, 2009). "Patrice Louvet, President of Global Prestige Products for P&G". Fashion Network. Retrieved May 24, 2017.
  17. ^ Menkes, Suzy (September 30, 2010). "Elegant Androgyny". The New York Times. New York City, United States. Retrieved May 24, 2017.
  18. ^ a b c d Fernandez, Chantal; Hoang, Limei (May 17, 2017). "Ralph Lauren Names Patrice Louvet its New CEO". Business of Fashion. Retrieved May 18, 2017.
  19. ^ a b "Ralph Lauren names Procter & Gamble executive as CEO". Star Tribune, Associated Press. May 17, 2017. Retrieved May 24, 2017.
  20. ^ Anderson, Sarah (2024-08-29). "Executive Excess 2024: The "Low Wage 100" corporations are enriching CEOs at the expense of workers and long-term investment" (PDF). Institute for Policy Studies. Archived (PDF) from the original on 2024-08-29. Retrieved 2024-08-31.
  21. ^ Marie Bartnik (24 February 2022), Le PDG de Ralph Lauren proposé au conseil d'administration de Danone Le Monde.

Further reading

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