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L’Oreal to Halt Stock Options, CEO Tells Journal du Dimanche

Feb. 19 (Bloomberg) -- L’Oreal SA Chief Executive Officer Jean-Paul Agon said he aims to halt the company’s use of stock options this year and grant free shares to qualified managers when certain goals are met, Le Journal du Dimanche reported.

The CEO also pledged to give back half the stock options he received in 2010 and that his 2.1 million-euro ($2.8 million) fixed annual salary wouldn’t be raised in the future, according to the interview with the French newspaper published today.

To contact the reporter on this story: Andrew Roberts in Paris at aroberts36@bloomberg.net

To contact the editor responsible for this story: Sara Marley at smarley1@bloomberg.net

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