[Trending News] Heiress of L'Oréal leaves board of directors to give way to her son

The French company L'Oréal announced on Thursday, February 6, that Françoise Bettencourt Meyers, granddaughter of the company's founder and one of the richest women in the world, plans to abandon the board of directors, with his son Jean-Victor a assume the role of vice president.

38-year-old Jean-Victor Meyers, and his younger brother Nicolas Meyers are already administrators of the Board of Directors.

Françoise Bettencourt Meyers also proposed holding Family Tethys, L'Oréal's largest shareholder, joined the board of directors, along with his children.

The proposal will be voted on at the Annual General Assembly of April 29, the company said in a statement.