L’Oreal heiress Bettencourt dies at age 94 Spray. A widow since 2007, Bettencourt ceased to sit on L’Oreal’s board in 2012.In 2011 Agon was appointed chairman and chief executive of L’Oreal, owner of the Lancome and Maybelline beauty and make-up brands and of Garnier shampoos.Fascination with Bettencourt’s wealth, complex family relations and scandal-tinged life often propelled her into society pages and headlines, though she remained private and rarely gave interviews.She had been under the guardianship of family members since a court fight, known as the “Bettencourt affair”, ended with a ruling in 2011 that she was incapable of looking after her fortune because she suffered from dementia and had been exploited.Bettencourt and her family owned 33 percent of the company. JAKARTA, NETRALNEWS.COM - Liliane Bettencourt, former board of director member and sole owner of global beauty care brand L'Oreal, has passed away on Friday (9/22/2017) at the age of 94 years.. On 11 August 2005, the Supreme Court of California ruled that former L'Oréal sales manager Elyse Yanowitz had adequately pleaded a cause of action for retaliatory termination under the California Fair Employment and Housing Act, and remanded the case for trial. She was 5 years old when her mother, Louise, died, leaving Liliane with with what she called “an empty pit nothing could ever fill.” She was raised by Dominican nuns.Lindsay Owen-Jones, who became CEO in 1988, turned the company into the global cosmetics giant it is today.Bettencourt had two grandchildren.
Despite selling her company to L’Oreal, Lisa remains heavily involved and committed to her “child”, Carol’s Daughter, until she’s ready to retire. The news was conveyed by her daughter, Francoise Bettencourt Meyers. Bettencourt, listed by Forbes as the world's richest woman, was the heiress to the beauty and cosmetics company her father founded just over a century ago as a maker of hair dye. As main guardian of the family’s assets, including its stake in L’Oreal, Bettencourt Meyers succeeds her mother as the world’s richest woman. Created by African American entrepreneur Lisa Price more than 20 years ago in 1993, Carol’s Daughter offers a variety of beauty products that generate nearly $30 million in annual sales.
And Bettencourt was caught up in high-profile legal feuds almost until the last.Paris-born Bettencourt joined her father Eugene Schueller’s firm as an apprentice at the age of 15, mixing cosmetics and labeling bottles of shampoo.Reporting by Matthias Blamont, Dominique Vidalon, Martinne Geller, Luke Baker and Pascale Denis; Writing by Sarah White; Editing by Andrew RochePARIS (Reuters) - French businesswoman and billionaire Liliane Bettencourt, whose family founded L’Oreal and still owns the largest stake in the cosmetics giant, has died aged 94, her daughter said on Thursday.The Swiss company has been a major investor since 1974, when Bettencourt entrusted nearly half of her own stake in the firm to Nestle in exchange for a three percent holding in the Swiss company. L'Oréal SA engages in the manufacture and sale of beauty and hair products. Photograph:( Reuters ) Follow Us Story highlights.
Bettencourt, listed by Forbes as the world’s richest woman, was the heiress to the beauty and comestics company her father founded just over a century ago as a maker of hair dye.“My mother left peacefully,” Bettencourt-Meyers said, adding that she had died during Wednesday night at her home in Paris.The case - brought by her daughter Françoise and which soured relations between the two - centered on Francois-Marie Banier, a celebrity photographer who befriended Bettencourt in the 1980s and received lavish gifts from her, including life insurance policies worth $400 million.Another strand of the sprawling affair later led to allegations of illegal payments by Bettencourt to members of the French government associated with former president Nicolas Sarkozy in 2010. Her daughter Françoise Bettencourt-Meyers, who sits on L'Oreal's board along with her own son, said in a statement the family remained committed to the company and its … Liliane Bettencourt, the founder, and owner of L'oreal dies at the age of 94 confirms her daughter.