April 14, 2008 / 6:24 AM / 11 years ago

REFILE-Clarins names Philip Shearer as new CEO

(Deletes extraneous word ‘new’ in headline)

PARIS, April 14 (Reuters) - French cosmetics group Clarins CLRP.PA named the new heads of its supervisory and management boards, with Philip Shearer promoted to become its chief executive.

Clarins said Christian Courtin-Clarins, currently chief executive, would leave that post to become president of the company’s supervisory board. Shearer was previously executive vice-president at Clarins.

Clarins shares closed at 40.07 euros on Friday, giving the company a stock market value of around 1.6 billion euros ($2.53 billion).

The company is often the subject of bid speculation, but Courtin-Clarins told French newspaper Le Figaro last month that Clarins aimed to remain independent. (Reporting by Sudip Kar-Gupta; Editing by Quentin Bryar)

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