Francoise Bettencourt Meyers Steps Down from L’Oréal Board, Son Jean-Victor to Succeed Her

by THEFUTURE.TEAM

February 7, 2025

Françoise Bettencourt Meyers, the heiress to L’Oréal and Europe’s richest woman, is stepping down from the company’s board after nearly three decades. She will pass the vice-chairmanship to her son, Jean-Victor Meyers, while Alexandre Benais, deputy CEO of Téthys Invest, will take her seat on the board. The changes, announced alongside L’Oréal’s fourth-quarter earnings report, will take effect following a shareholder vote in April.

A Legacy at L’Oréal

Bettencourt Meyers, 71, has been a board member since 1997 and vice-chair since 2020. As the granddaughter of L’Oréal’s founder, she inherited a 35% stake in the company in 2017, following the passing of her mother, Liliane Bettencourt—once the world’s richest woman.

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Beyond business, she is an author and philanthropist, known for her five-volume study of the Bible and a genealogy of Greek gods. She also leads her family’s foundation, which funds advancements in science and the arts.

A Fortune Built On Beauty

Bettencourt Meyers ranks as the world’s second-richest woman, with a net worth of $76.1 billion, trailing only Alice Walton of Walmart.

Her family has played a pivotal role in France’s cultural heritage, notably donating $226 million to restore Notre Dame Cathedral after its devastating 2019 fire.

As she steps back, the next generation is set to take over—a dynasty in transition, but still firmly in control of one of the world’s most powerful beauty empires.

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Cyprus Services Sector Shows Robust Performance In 2025 As Tourism, Digital Innovation, And Shipping Surge

by THEFUTURE.TEAM

April 6, 2026

The Employers and Industrialists Federation (OEV) reported growth across Cyprus’ services sector in 2025, with increases recorded in tourism, professional services and administrative activities. Data show continued expansion across multiple sub-sectors, reinforcing the role of services in economic output and employment.

Service Sector Leadership

Accommodation and food services grew by 9.5%, while administrative and support activities increased by 7.4%. Professional, scientific and technical activities rose by 4.6%, followed by information and communication at 4.3%. Transport and storage recorded growth of 2.8%, while real estate activity increased by 0.4%. These figures indicate broad-based expansion across service industries.

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A Remarkable Tourism Surge

Tourist arrivals reached 4,534,073 in 2025, marking a 12.2% increase year-on-year. December arrivals totaled 156,959, up 18% compared with the same period a year earlier. Tourism continues to support revenue generation and seasonal demand across the economy. Growth in visitor numbers contributes to activity in hospitality and related sectors.

Driving Digital Transformation

OEV is supporting digital adoption through initiatives such as the DiGiNN Cyprus Digital Innovation Hub. The program focuses on improving business processes, skills development and technology integration. Additional efforts include the establishment of a Digital Transformation and Innovation Committee and international engagement through business missions. These actions support the adoption of digital tools across sectors.

Resilient Shipping Sector

Shipping accounted for about 7% of Cyprus’s GDP in 2025, remaining a key component of the economy. The Cyprus Registry recorded its highest tonnage in 20 years, with an increase of nearly 20%. Fleet growth strengthens Cyprus’ position within European Union shipping registries and global maritime markets. The sector continues to contribute to economic stability.

Strengthening The Economic Foundation

OEV is organizing conferences, workshops and exhibitions to support business development across sectors. These initiatives focus on improving operational practices and industry collaboration. Continued investment in services and digital infrastructure is expected to support economic performance.

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