--The CEO of French luxury goods company Hermes International SCA has stepped down from the board of beauty goods company L'Oreal SA (LRLCY), because his company is beginning to work on its own line of cosmetics, Reuters reported Thursday.

--France's L'Oreal made the announcement Thursday that Axel Dumas was leaving the board, the report said.

--Fabienne Dulac, CEO of Orange France, was elected by shareholders to serve on the board, the report said.

Full story: https://www.reuters.com/article/us-loreal-agm-hermes/hermes-ceo-steps-down-from-loreal-board-over-competing-make-up-line-idUSKCN1RU22E?il=0

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

April 18, 2019 13:28 ET (17:28 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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