Françoise Bettencourt Meyers, the heiress of the cosmetics giant L'Oréal and the richest woman in France, announced on Monday, April 28, 2025, that she will step down from her position as vice-president of the company’s board of directors. Her eldest son, Jean-Victor Meyers, is set to take over her role on Tuesday, April 29, 2025, pending a shareholder vote.
At 71 years old, Françoise Bettencourt Meyers has been an integral part of L'Oréal for nearly three decades, having joined the board in 1997. "I am not leaving L'Oréal, but its board of directors, where I will have stayed for nearly 30 years," she stated in a declaration to the Agence France-Presse (AFP). She expressed joy at the continuity of her family’s connection with the company, saying, "It is a happiness for my husband and me to see the bond perpetuated between our family and L'Oréal. We will enjoy it alongside our sons Jean-Victor and Nicolas."
Jean-Victor Meyers, who turns 39 on April 29, has already been a member of the board alongside his younger brother Nicolas, 36, since 2020. He is expected to bring a wealth of experience to his new role. "This is a generational transition, the fourth on the family side," Françoise added, highlighting the family legacy within L'Oréal.
Jean-Victor’s journey into the family business began when he became a member of the supervisory board of Téthys, the family holding company, at just 24 years old in 2011. The following year, he replaced his grandmother, Liliane Bettencourt, on L'Oréal's board, becoming the youngest administrator of a CAC 40 company at the age of 26. His remuneration for attending board meetings was 55,000 euros annually, which increased to 85,000 euros in 2024.
Françoise Bettencourt Meyers, who inherited the L'Oréal empire in 2017 following the death of her mother, Liliane Bettencourt, at the age of 94, has played a significant role in the company and its philanthropic endeavors. Under her guidance, the Bettencourt Schueller Foundation donated over 85 million euros in 2024 to various causes, including life sciences and crafts.
In her recent announcement, she also mentioned that she will cede her role as an administrator of Téthys, which is expected to join L'Oréal’s board after the shareholder vote. "We want to appreciate this remarkable continuity in respect and pride for all those who have contributed worldwide," she stated.
Jean-Victor Meyers’ academic background includes a degree in economics and business management from Nanterre University, followed by studies in general business at UCLA in California. He also completed finance courses in New York and earned a management diploma from the Institut supérieur de gestion (ISG). His career began with internships at the Red Cross and Yves Saint Laurent, and he later co-founded a luxury menswear brand, Exemplaire, specializing in cashmere sweaters.
Often described as the "favorite grandson" of Liliane Bettencourt, Jean-Victor became her tutor in 2011 amidst family disputes. His close relationship with his grandmother, who was embroiled in a financial scandal, has been well-documented, as he frequently visited her and accompanied her on travels.
As the transition unfolds, the Bettencourt Meyers family continues to hold a significant stake in L'Oréal, owning 34.76% of the company’s capital as of March 2025. The company reported a net profit increase of 3.6% to 6.4 billion euros and a turnover growth of 5.6% to 43.48 billion euros in 2024.
Looking ahead, the general shareholders' meeting on April 29, 2025, will confirm Jean-Victor's appointment and the integration of Téthys into the board. Françoise Bettencourt Meyers’ departure from the board marks a significant moment in L'Oréal’s history, as the company prepares for a new chapter under the leadership of the next generation.
Françoise's legacy is not only tied to her wealth, estimated at 75.4 billion euros, but also to her commitment to the company's vision and her family's enduring influence. As she steps back, she emphasizes the importance of maintaining the values and traditions that have shaped L'Oréal into a global leader in beauty and cosmetics.
