Francoise Bettencourt Meyers, heiress to cosmetics behemoth L’Oréal and world’s second richest woman with US$76.1 billion in net worth, is set to retire from the company’s board in April.
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Bettencourt Meyers is a third-generation L'Oreal heir and has spent 28 years on its board. Her two sons are also board directors.
L’Oréal also gains a minority stake in the French fashion label.