World second richest woman who is identified as Francoise Bettencourt Meyers who owns part of popular hair and cosmetics brand, L’Oréal, will leave the company’s board this year.
Her family owns 35% of the company.
She has been on the board since 1997 and was vice-chairwoman since 2020.
Her son, Jean-Victor Meyers, will take her place as vice-chairman.
Another man, Alexandre Benais, will take her seat on the board.
L’Oréal’s value has dropped because fewer people are buying beauty products, especially in China.
Bettencourt Meyers became the richest woman in the world in 2023 when her money reached $100 billion.
She is also known for giving money to charity and helping to rebuild Notre Dame Cathedral after a fire.
She prefers to live a quiet life, spending time playing the piano and writing books.
Now, her family’s younger generation will take on more responsibility at L’Oréal.
