L'Oréal family resolves feud

Published: 7-Dec-2010
Finance

Liliane Bettencourt and daughter abandon legal action


The family legal dispute between Liliane Bettencourt and her daughter Francoise Bettencourt-Meyers, which some observers saw as posing a risk for L'Oréal, has been settled. The two women have abandoned all legal action after a meeting at Bettencourt's home in Neuilly or as the press termed it, Neuilly-sur-Dallas.

Jean-Pierre Meyers, husband of Francoise, and their two young sons will now have a larger share of the Tethys holding company, which has a 31% stake worth about €14.5bn in L'Oréal. Meyers will become director-general of Tethys while the two sons will have seats on the supervisory board of the holding with Liliane Bettencourt remaining as board president. Jean-Paul Agon, director general of L'Oréal, has expressed his satisfaction with the agreement.
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