End of an era as Bettencourt steps down at L’Oréal End of an era as Bettencourt steps down at L’Oréal 16-Feb-2012 By Andrew McDougall The richest woman in France and heiress of cosmetics giant L’Oréal, Liliane Bettencourt, 89, has ended her tenure as Board Director, and will be replaced by her grandson.