L’Oréal’s heiress, Francoise Bettencourt Meyers, will retire from the French cosmetic company’s board later this year.
The move, announced Thursday alongside L’Oréal’s annual results, comes after Bettencourt Meyers spent 28 years on the board of the company her grandfather founded. She served the last five years as the board's vice chairwoman and owns a third of L’Oréal.
