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Nestle's Stake In L'oreal Isn't L'oreal Managers' Concern


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NESTLE'S STAKE IN L'OREAL ISN'T L'OREAL MANAGERS' CONCERN

In "Nestle: A giant in a hurry" (The Corporation, Mar. 22), you give a misleading impression of L'Oreal's attitude toward shareholders. Chairman Lindsay Owen-Jones has never shown the least "opposition" to a potential majority shareholding in the company by Nestle. Indeed, he has consistently stated that executives should manage and not interfere in the separate domain of stockholder intentions or actions.

Jean-Pierre Valeriola

Managing Director, Communications

L'Oreal

Paris


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