has named industry veteran Philip Shearer as the new president of its executive board. He replaces Christian Courtin-Clarins, who becomes president of the supervisory board. Mr. Shearer joined Clarins last month as executive vice president. Prior to joining the company, he was a group president at Estée Lauder Companies Inc. in New York responsible for the Clinique, Origins, Bumble & Bumble, Aveda and Ojon brands as well as the group’s online businesses. Prior to that, Mr. Shearer was president of the luxury products division at L’Oréal for the U.S. and Japan. He began his career in cosmetics with the Eli Lilly-Arden Group in France, Mexico and the U.S.