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Essay text:
This award instituted by the leading
French business publication, Challenges, was in recognition of Jones’
outstanding achievements in transforming L’Oreal from a French company
into a global powerhouse. Jones also received the prestigious ‘Manager of the
Year 2002’ award from the French Prime Minister, Jean-Pierre Raffarin. Jones was
the first foreign head
of any French company to receive this award, which was sponsored by the
leading
French business publication, Le Nouvel Economiste.
These honors were not just a ‘cosmetic’ eulogy; L’Oreal deserved them, for it was the
only company in its industry to post a double-digit profit for 18 consecutive
years
(Refer Exhibit I for L’Oreal’s key financials)...
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