new CEO to take over in January 2025

Masahiko Uotani, president and CEO of Japanese cosmetics group Shiseido, whose brand portfolio also includes Drunk Elephant, Nars, and Serge Lutens, will retire at the end of this year. His successor is Kentaro Fujiwara, who will assume the role starting on January 1 2025. Uotani, who has been in charge of the group since 2014, will continue to work as senior adviser to Shiseido’s board.
 

Fujiwara joined Shiseido in 1991, and in November 2022 was appointed president and COO. He was previously the group’s CEO China.
 
In recent months, the Shiseido group’s performance has been buffeted by the pandemic’s impact on its revenue in Japan and China, the group’s two main markets. To become less reliant on these markets, Shiseido has strengthened its position in Europe. First by launching in France Ulé, a natural skincare brand, and later by acquiring Gallinée, a brand founded by French businesswoman Marie Drago in 2016. The group is also looking to the USA for new acquisitions.

In Q1 2024, Shiseido’s revenue grew by 3.9% to JPY249.5 billion (nearly €1.5 billion). However, due to reorganisation costs, the group recorded a net loss of JPY3.3 billion (equivalent to a loss of €19.6 million at current exchange rates) in the period, compared to a net income of JPY8.7 billion in January-March 2023.