After nearly three decades of quiet but powerful influence, Françoise Bettencourt Meyers has stepped down from her role on the board of directors at L’Oréal, marking the end of an era — and the beginning of a new chapter led by her sons.

At 71, the world’s wealthiest woman and heiress to the L’Oréal fortune announced the move during the company’s annual general meeting on Tuesday. Her board seat has been formally transferred to Téthys, the family’s holding company, a move that received overwhelming shareholder support, passing with 95.59% of votes. Bettencourt Meyers remains chair of Téthys and emphasized that her withdrawal from the board does not signify a break from the company.

Jean-Victor-Meyers-Francoise-Bettencourt-Meyers-and-Nicolas-Meyers.-Photo-by-Stephane-Feugere

“I am not leaving L’Oréal,” she told AFP, “but I am stepping down from its board of directors, where I served for 28 years.”

She also stepped down as vice-chair of the board, with her eldest son Jean-Victor, who turned 39 on the day of the meeting, unanimously appointed to succeed her. Jean-Victor joined the board in 2012, following in the footsteps of his great-grandfather, L’Oréal founder Eugène Schueller, and his grandmother, Liliane Bettencourt. His younger brother, Nicolas, has been a board member since 2019.

The meeting was filled with warm tributes and heartfelt applause from nearly 1,000 shareholders. Jean-Paul Agon, L’Oréal’s chairman, described Bettencourt Meyers as a guiding force who upheld the company’s long-term vision with quiet resolve.

“You have always resisted the temptation of short-term measures that would have sacrificed investment for immediate results,” Agon said. “Discretion is a silent virtue, and you embody it.”

The moment was symbolic in many ways — a generational handover, but also a reaffirmation of the Bettencourt Meyers family’s deep-rooted legacy within the company. With a 34.76% stake in L’Oréal as of March 2025, the family continues to be its largest single shareholder and a stabilizing presence as the group evolves.

L’Oréal remains in robust financial health. In 2024, it posted a 5.6% rise in revenue to €43.48 billion, and a 3.6% increase in net profit to €6.4 billion. The baton may be passed, but the family’s influence — and its commitment to L’Oréal’s future — remains firmly intact.