Billionaire Arnault adding sons to LVMH board

By Minh Hieu   January 29, 2024 | 05:14 pm PT
Billionaire Arnault adding sons to LVMH board
Bernard Arnault (third from the right) with his wife Helene (second from the right) and children, Frederic, Delphine, Antoine and Alexandre (from left to right). Photo by AFP
Business magnate Bernard Arnault will appoint two more of his sons, Alexandre and Frederic, to the board of LVMH, the world’s largest luxury goods company.

The founder, chairman, and CEO of LVMH will present the nomination at an upcoming board meeting in April.

If endorsed, four out of Arnault's five children will hold positions on the company's board of directors.

Frederic, 29, was appointed the role of CEO at Tag Heuer in 2020, and later transitioned to oversee LVMH's watches division, which includes brands such as Tag Heuer, Hublot, and Zenith, reported by Business Insider.

Meanwhile, Alexandre, 31, has been the executive vice president of product and communications at Tiffany & Co since LVMH acquired the jewelry brand in 2021.

Arnault’s two eldest children, Delphine, 48, and Antoine, 46, are already established members of LVMH's board of directors. His youngest son, Jean, 25, is currently in charge Louis Vuitton’s watches division.

LVMH boasts ownership of 75 high-end brands in clothing, perfume, jewelry, watches, and wine.

Notable names within their portfolio include Louis Vuitton, Dior, Marc Jacobs, Givenchy, Moët & Chandon, Fenty Beauty, and Tiffany & Co.

As of January 26, Bernard Arnault, with an estimated net worth of US$207.8 billion, had surpassed tech genius Elon Musk as the world's richest person, according to Forbes.

He has yet to designate a successor to his role at LVMH, sparking speculation about intense competition among his five children for the coveted position.

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