End of an era as Bettencourt steps down at L’Oréal

Following the co-optation of Jean-Victor Meyers by the Board, company CEO Jean-Paul Agon expressed his satisfaction with the continuity of the Bettencourt family’s attachment to L’Oreal.

“Mme Bettencourt’s dedication and personal support given to L’Oreal, her entrepreneurial spirit, her curiosity about new modern trends relevant to our business, are not only exceptional but also demonstrate her deep attachment to this group and its continuity in the face of a changing world,”​ he said.

Board expresses gratitude​

“Her unrelenting support to the managers of the group, to its development and international success has been exemplary and valuable. “​

The Board of Directors also expressed its gratitude to Bettencourt for her active participation in the Board’s meetings and for her continued interest in the company, which was founded by her father, Eugene Schueller, in 1907.

“Her participation as Board director was a permanent encouragement to pursue her Father’s work to grow the company, first and foremost in its quest for excellence, its demand for high standards and pertinent decisions in the respect of the men and women of this company,”​ added Agon.

“We know that Mme Bettencourt’s interest for the group remains strong and that she will continue to support its development going forward.”​

An eventful era​

Bettencourt had her board position renewed for a further four years in April 2011 as voted by a large majority of cosmetics giant L’Oréal’s shareholders at company headquarters in Paris.

The L’Oreal heiress was also the subject of widespread media coverage in recent years following a disagreement with her daughter, a story that became public knowledge when a challenge was made in court.

Adding to the drama, allegations of illegal political donation and tax evasion have also been made by various press sources.