Patrice Louvet Explained

Patrice Louvet
Native Name Lang:French
Birth Date:1964
Birth Place:Saint-Cloud, France
Alma Mater:ESCP
University of Illinois
Occupation:Business executive
Years Active:1989-present
Boards:Bacardi Limited

Patrice Louvet (born 1964) is a French American business executive.[1] The CEO and president of the Ralph Lauren Corporation[2] [3] [4] since July 17, 2017,[5] [3] he began his career at Procter & Gamble (P&G) in 1989, where he held numerous executive roles across Northeast Asia, North America, and Europe. In 2015 he became group president of P&G's global beauty[6] and hair care units, a role he held until June 30, 2017. He currently serves on the board of Bacardi Limited.

Early life and education

Patrice Jean Louis Louvet was born in 1964 in Saint-Cloud, France,[1] spending his youth in both France and the United States. In 1986, Louvet graduated from ESCP Europe with a master's degree in business administration (MBA) and earned a second MBA from the University of Illinois in 1987. During his graduate studies, he served as a marketing professor for undergraduate students and authored the book Overcoming Barriers to Entering the US Market.[7] From 1987 until 1989, he briefly served as a naval officer and aide-de-camp to an Admiral in the French Navy.

Career

1989-2010

In 1989, Louvet joined P&G’s marketing department in France and was appointed marketing director for Pantene’s global franchise in Cincinnati, Ohio ten years later. In 2002, he moved to Japan[7] to become P&G's general manager for health care and hair care in northeast Asia,[8] returning to North America[7] to spend four years in P&G's hair colorant division.[9] In 2005, he became vice president of global hair colorants, running the Clairol[10] and Wella brands from Stamford, Connecticut.[7]

In March 2008 he transferred to Geneva, Switzerland[7] to serve as the vice president of future strategy and growth for the Global Prestige Products unit of Procter & Gamble. From 2010[11] to 2011, he served as president of the global prestige products unit, overseeing fragrances,[9] skin care, cosmetics, hair care, and grooming,[7] with brands such as Gucci, Dolce & Gabbana, Hugo Boss, Rochas,[12] and Lacoste.

2011-2017

In 2011, Louvet was named president of global shave care for P&G,<ref name=PG-dot/> overseeing Gillette Company,[8] and two years later group president of global grooming and shaving. The role gave him oversight of the company's grooming brands, including Braun electric razors, Venus razors, and the global Gillette shaving business.

In 2015, P&G appointed Louvet to group president of the company's global beauty[6] and hair care units. Louvet remained in this role following Coty Inc.’s acquisition of Procter & Gamble's perfume, hair care and make-up US businesses in July 2015.[9] In this role, he oversaw 12 brands in the global beauty unit, including Head & Shoulders, Pantene,[2] Olay,[13] and Old Spice, which generated about $11.5 billion in combined revenue in 2016.[1] By early 2017, Louvet had worked in six of P&G's 10 product categories.

2017-present

In May 2017, the Ralph Lauren Corporation selected Louvet as its future CEO and president, effective July 17.[14] [3] Louvet also joined the Ralph Lauren board on July 17.[2] With the appointment, Louvet became the third appointed CEO in the history of the Ralph Lauren Corporation. Founder Ralph Lauren stepped down as CEO in 2015 and remains as executive chairman and chief creative officer. Stefan Larsson became CEO in 2015,[1] [14] [15] but after he announced his resignation in February 2017, chief financial officer Jane Nielsen was appointed interim chief CEO[4] on May 1 while the company searched for a successor.[4]

Louvet stated plans to retire from P&G on June 30, with P&G saying it would name a successor to lead its beauty division at a later time.[1] As the new Ralph Lauren CEO, Louvet reports to executive chairman and creative director Ralph Lauren[1] [16] [4] and the company's board of directors.[17] Lauren stated that he was "thrilled"[2] about "finding the right partner to work with me," citing Louvet's “collaborative working style, transformation experience and intense focus on results.”[13]

Other activities

Personal life

As of May 2017, Louvet is based in the New York area.[1] He and his wife Christine have two children.[16]

See also

Further reading

Notes and References

  1. News: Tweh . Bowdeya . May 17, 2017 . Ralph Lauren Taps Procter & Gamble Executive Patrice Louvet as Its Next CEO . . May 18, 2017.
  2. News: Cavale . Siddharth . May 17, 2017 . Ralph Lauren names P&G executive Patrice Louvet as CEO . . May 18, 2017.
  3. News: Badkar . Mamta . May 17, 2017 . Ralph Lauren appoints P&G exec Patrice Louvet as new CEO . . . May 18, 2017.
  4. News: Melin . Anders . Hoi-Nga Wong . Stephanie . May 17, 2017 . Ralph Lauren Names P&G Veteran Patrice Louvet as Next CEO . . May 18, 2017.
  5. News: Haapaniemi . Peter . July 26, 2017 . Ralph Lauren Reaches Across Industry Boundaries for a New CEO . Chief Executive . August 5, 2017.
  6. News: Reingold . Jennifer . January 21, 2015 . Exclusive: Big moves at P&G as Taylor up, Henretta sideways . . May 24, 2017.
  7. News: Patrice Louvet - President . . May 24, 2017.
  8. News: Patrice Jean Louis Louvet . . May 23, 2017.
  9. News: Coolidge . Alexander . October 22, 2014 . P&G CEO contender, others out amid reshuffle . . May 24, 2017.
  10. News: September 13, 2005 . Teri Hatcher stars in hair color ad campaign . The Augusta Chronicle and the Associated Press. May 24, 2017.
  11. News: Fulwell . Jonathan . May 9, 2009 . Patrice Louvet, President of Global Prestige Products for P&G . Fashion Network . May 24, 2017.
  12. News: Menkes . Suzy . September 30, 2010 . Elegant Androgyny . . New York City, United States . May 24, 2017.
  13. News: May 17, 2017 . Ralph Lauren names Procter & Gamble executive as CEO . . May 24, 2017.
  14. News: Wahba . Phil . May 17, 2017 . Ralph Lauren Names P&G Beauty Exec Patrice Louvet As New CEO . . May 18, 2017.
  15. News: Noto . Anthony . May 17, 2017 . Ralph Lauren names new CEO amid tumultuous time . . May 24, 2017.
  16. News: Brunsman . Barrett J. . May 17, 2017 . P&G President Named CEO of Ralph Lauren . . May 18, 2017.
  17. News: Fernandez . Chantal . Hoang . Limei . May 17, 2017 . Ralph Lauren Names Patrice Louvet its New CEO . Business of Fashion. May 18, 2017.
  18. Marie Bartnik (24 February 2022), Le PDG de Ralph Lauren proposé au conseil d'administration de Danone Le Monde.
  19. News: July 17, 2012 . Two new directors elected to Bacardi board . . May 24, 2017.