Unilever is said to have appointed a new head of its REN skin care business, according to a report published by Bloomberg Business.

Olivier Ricard is thought to be transferring from his current role at Nuxe Group to the Anglo-Dutch FMCG goods manufacturer’s prestige arm. Ricard has also held several positions at L’Oréal, including Development Manager in Asia.

Bloomberg claims that the appointment shows Unilever’s increased investment in its new prestige beauty unit, which is currently growing at 2 percentage points faster than the mass market, according to Bloomberg Intelligence Analyst Deborah Aitken.