The Bettencourt family, which founded L‘Oreal, has 33% stake in the beauty company.
“I have just learned with great sadness the passing of Mrs Liliane Bettencourt, daughter of Eugène Schueller, founder of the L'Oréal Group,” read a statement from Jean-Paul Agon, chairman and CEO of L’Oréal Group, on the firm’s corporate website.
“All of L'Oréal's employees join me in expressing our most sincere condolences and affectionate thoughts in these sad moments to Mrs. Françoise Bettencourt Meyers, Mr. Jean-Pierre Meyers, and their two sons Jean-Victor and Nicolas," continued Agon. "We all had a great admiration for Liliane Bettencourt who always looked after L'Oréal, the company and its employees, and was very attached to its success and development. She has personally contributed greatly to its success for many years. Mrs Liliane Bettencourt was a great lady of beauty who has left us and whom we will never forget.”
“My mother left peacefully,” read a statement from her daughter, Françoise Bettencourt Meyers.
She also wrote, “In this painful moment for us, I would like to reiterate, on behalf of our family, our entire commitment and loyalty to L'Oréal and to renew my confidence in its President Jean-Paul Agon and his teams worldwide. My parents have not only been able to help the development of L'Oréal. They have also founded a caritative Foundation that I am glad of chairing today.”
Bettencourt, who Forbes declared to be the richest woman in the world, would have turned 95 on Oct. 21.