Françoise Bettencourt Meyers, 71, handed over her position as member of L’Oréal’s board of directors to the family holding company Téthys at the group’s general meeting on Tuesday, April 29. Her elder son, Jean-Victor Meyers, 39, took over as vice-chairman of the board.
“I am not leaving L’Oréal, but I am stepping down from its board of directors, where I served for 28 years,” she told AFP on Monday.
“It is a joy for my husband and me to see the bond between our family and L’Oréal continue. We look forward to nurturing it alongside our sons, Jean-Victor and Nicolas,” she added.
Jean-Victor, joined L’Oréal’s board in 2012, taking over the seat previously held by his grandmother, Liliane Bettencourt. His brother, Victor, 36, has been a board member for five years.
Téthys’ appointment to the board received strong support and was approved with 95.59% of shareholder votes. Bettencourt Meyers had served as a board member for 28 years and remains the chair of Téthys.
“Today marks a major milestone in L’Oréal’s history,” said Chairman Jean-Paul Agon during the tribute to Bettencourt Meyers.
He emphasized the enduring relationship between the Bettencourt Meyers family and the founding family of L’Oréal. Bettencourt Meyers is the granddaughter of L’Oréal founder Eugène Schueller and the daughter of Liliane Bettencourt.
As of March 24, 2025, the Bettencourt Meyers family held a 34.76% stake in L’Oréal. In 2024, the company reported a 3.6% increase in net profit to EUR 6.4 billion and a 5.6% rise in revenue to EUR 43.48 billion.