Liliane Bettencourt, daughter of the founder of L’Oréal, has stepped down from the board of the cosmetics company. Her 25-year-old grandson Jean-Victor Meyers will replace her.
In October, a judge ruled that Bettencourt, 89, was unfit to run her own affairs and ordered her to be placed under the guardianship of her daughter, Françoise Bettencourt-Meyers, and her two grandsons.
According to the
Financial Times,
a medical report said she had “modestly severe” Alzheimer’s disease and “mixed dementia.”
Bettencourt-Meyers and her husband, Jean-Pierre Meyers, serve on L’Oréal’s board. The family, which owns a 31% stake in the company, are the largest shareholders, the
FT
report noted.
Bettencourt and her daughter had been engaged in a legal feud that escalated into a political scandal. A French prosecutor has announced that President Nicolas Sarkozy’s former party treasurer is under investigation for alleged influence peddling as part of an inquiry into Bettencourt’s role in political funding, the
FT
article said. (Source:
Financial Times,
Feb. 14, 2012.)
-
678 reads