The luxury firm Moët Hennessy Louis Vuitton (LVMH), chaired by Bernard Arnault since 1989, does not want it to retire and change its statutes to prevent it.
Arnault has 76 years, celebrated this March 5and your company has proposed raise the age limit to hold the presidency and the position of CEO of the firm, which is set In 80 years, at 85 years Not to change president.
So It will stipulate it at its next General Shareholders Meetingin an initiative that opens the door for billionaire Bernard Arnault, One of the world’s greatest fortunescontinue at the head of the company five more years than expected.
It will not be the first time that limit age is modifiedsince this temporary limitation was already modified in 2022 and will give Arnault more time to organize an ordered succession after its effective retirement.
This Wednesday, LVMH appointed Frederic Arnault, One of the five children of the tycoonas director of his Italian brand of ‘Cashmere’ Loro Piana, within the framework of a new remodeling of the board of directors.
Arnault son, who until now was responsible for the watch division of LVMH, will replace Damien Bertrand as CEO since June 10while Bertrand will become vice councilor delegate of the company.
Frederic Arnault is also general director of Financière AGache, one of the ‘holding‘Through which the family controls their participation in LVMH.
The multinational luxury has also made public that Pierre-Emmanuel Angeloglou will be Vice Minister Delegate from Christian Dior Couture As of April 15.
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