Vevey, Switzerland,Jul 8, 2014 - As a result of the successful conclusion of the regulatory process and customary closing conditions, Nestlé today completed its acquisition of L’Oréal’s 50% stake in Galderma, as originally announced on 11 February 2014.

Galderma, with approximately 5,000 employees and a presence in 80 countries, will henceforth operate as the pharmaceutical arm of Nestlé Skin Health S.A.

Nestlé Skin Health was formally established on 30 June 2014 as a fully-owned Nestlé subsidiary with its own Board of Directors comprising the following members:

Peter Brabeck-Letmathe, Chairman
Paul Bulcke, Vice-Chairman
Humberto C. Antunes, President and CEO
Wan Ling Martello
Stefan Catsicas

Based in Lausanne, Nestlé Skin Health is a global leader focused on enhancing the quality of life by delivering science-based solutions for the health of skin, hair and nails.