Billionaire Bettencourt Meyers to Retire From L’Oréal’s Board

Francoise Bettencourt Meyers, heir to the L’Oréal SA fortune and Europe’s richest woman, will retire from the company’s board later this year in an unexpected move that suggests succession to the next generation is starting to take hold.

Bettencourt Meyers, 71, will hand her role as vice-chairman to her son, Jean-Victor Meyers, 38, who is already a director, as is his younger brother, Nicolas. She will cede her board seat to Alexandre Benais, who heads Tethys Invest, the family’s…