With Succession in Focus, LVMH Adds Alexandre and Frédéric Arnault to Board

At its annual meeting Thursday, LVMH shareholders permitted the luxury conglomerate’s proposal in order so as to add two additional of chairman Bernard Arnault’s children to its board of directors.

Alexandre Arnault, aged 31, will serve on the board alongside together with his current perform as Tiffany’s govt vice chairman for product and communications. 29 year-old Frédéric Arnault, chief govt of LVMH Watches, was moreover permitted as a director.

The two brothers be a part of older siblings Antoine and Delphine, which signifies that 4 out of Arnault’s 5 heirs now serve on the board. Arnault’s youngest teen, Jean, has moreover taken on a administration perform as director of Louis Vuitton’s watch division.

Succession has develop to be a big theme for luxurious’s best group recently. Bernard Arnault, age 75, has restructured his holding firms, placing his controlling curiosity in LVMH in a stock-share partnership which will help perpetuate family administration.

Within the meantime, key longtime leaders have retired from key positions in present months. Sidney Toledano, beforehand CEO of Christian Dior after which chief of LVMH’s Vogue Group, transitioned to an advisory perform in January, whereas Antony Belloni, beforehand the group’s second-in-command as deputy CEO, launched his departure remaining month.

Toledano was modified by ex-Louis Vuitton chief Michael Burke. Belloni is able to be succeeded by Stéphane Bianchi, head of the group’s watches and jewellery division.

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