71-year-old Françoise Bettencourt Meyers is preparing to hand over her position as director of L'Oréal to the family holding company "Tétis" at the group's general meeting today, and her position as vice-president to one of her sons.
"I am not leaving L'Oréal, but the board of directors, where I have worked for nearly 30 years," she told AFP on Monday.
"It is a great joy for my husband and me to see the relationship between our family and L'Oréal continue. We will enjoy it together with our sons Jean-Victor and Nicolas," she added.
The heiress to the world's leading cosmetics company will hand over the vice-chairmanship to her eldest son Jean-Victor, who turns 39 on Tuesday and is already a member of the board of directors alongside his brother Nicolas, 36.
Shareholders will vote on whether she will be replaced as director by "Tétis," the family holding company and largest shareholder of L'Oréal, which will be represented on the board of directors by Alexandre Benettaud. Françoise Bettencourt Meyers is president of "Tétis."
Françoise Bettencourt Meyers has been a member of L'Oréal's board of directors for 28 years.
These changes were revealed by L'Oréal in February during the presentation of the group's annual results.
"This is a generational change, the fourth in the family and the sixth among the great leaders of L'Oréal since its creation. Visionary leaders, each of whom masterfully anticipated the future of L'Oréal," said Ms. Bettencourt Meyers in her statement to AFP.
"I have witnessed this, and my family and I are its guardians. We want to honor this remarkable continuity with respect and pride for all those who have contributed throughout the world. In principle, so that almost nothing changes in this epic story," she said.

- "Caricatured" -

Her son Jean-Victor, who succeeded his grandmother Liliane as director, will become vice president at the end of the general meeting, which the board of directors approved unanimously.
The extremely discreet family was thrust into the spotlight against its will during the "Bettencourt affair," which resulted in photographer François-Marie Banier being sentenced on appeal in 2016 to a four-year suspended sentence for abuse of weakness against Liliane Bettencourt.
"The Bettencourt-Meyers family is so discreet that they are not even well known, and yet they are caricatured," Jean-Claude Le Grand, director of human relations at L'Oréal, told AFP.
A feature film inspired by Liliane Bettencourt, starring Isabelle Huppert, will be presented at the next Cannes Film Festival. "The Bettencourt Affair" has already been the subject of a Netflix documentary series.
At the general meeting, CEO Nicolas Jericome's term will expire and his reappointment for a four-year term will be voted on.
Nicolas Jeronimus, who joined L'Oréal in 1987, has been a director since April 2021 and CEO of the group since May 1, 2021.
As of March 24, 2025, the Bettencourt-Meyers family owns 34.76% of the capital. In 2024, L'Oréal achieved a 3.6% increase in net profit to €6.4 billion and a 5.6% increase in turnover to €43.48 billion. I BGNES