Yesterday, in a landmark transition for the world’s largest beauty company, Françoise Bettencourt Meyers, the granddaughter of L’Oréal’s founder Eugène Schueller, has officially stepped down from the group’s board of directors after nearly three decades. The announcement was formally confirmed during L’Oréal’s annual general meeting at the Palais des Congrès in Paris.
Jean-Victor Meyers, who has served on the board for 13 years, has been named vice chairman, while his brother Nicolas remains a director. Their family holding company, Téthys Invest — L’Oréal’s largest shareholder with 34.7% of the capital — has also joined the board, represented by its CEO Alexandre Benais.
Agon praised Bettencourt Meyers for her “decisive contribution to L’Oréal’s economic success” and unwavering commitment to long-term strategic vision, especially during pivotal moments such as the 2008 financial crisis and the 2020 COVID-19 pandemic. He emphasized her role as a stabilizing force, always resisting short-term pressures in favor of sustainable growth.
L’Oréal CEO Nicolas Hieronimus echoed the sentiment, thanking Bettencourt Meyers for inspiring generations of L’Oréal employees with her ethical, humanist values. “She has always been the guardian of the values that guide us each day,” he said. “Now, more than ever, these values must remain our compass.”
