2023-06-22 16:21:16
If a family succession is partly possible at the head of LVMH, “it is still too early to decide” judged the CEO of the world number one in luxury Bernard Arnault in an interview with Figaro on Thursday.
“Depending on the competence of each other, there may, but this is neither an obligation nor a necessity, have a succession to its management which is also family, but it is still too early to decide”, he explained.
“The important thing is that this group keeps its family spirit”, according to the CEO who was crowned at the beginning of April with his family first world fortune by Forbes magazine in its annual ranking for 2023.
“I control the group because I was at the origin of it, it was a start-up at the beginning”, recalled 74-year-old Bernard Arnault, also at the head of a family of five children who are not preparing for not, for years, his succession while holding the reins of the group.
The age limit for the CEO of LVMH has already been pushed back from 75 to 80, allowing its CEO to stay in charge longer.
And he can also remain president of the Christian Dior SE holding company which controls the LVMH group until the age of 80.
Today, the five Arnault children work in the LVMH group and the two eldest, Delphine and Antoine, born from a first marriage, are also members of the LVMH board of directors.
The first, Delphine, 48, has been the CEO of Dior since February, a highly symbolic house for Bernard Arnault, whose first acquisition in fashion.
Questioned by the daily, Bernard Arnault underlined that she had been chosen “for her skills, not for other reasons, even [s’ils sont] a family group.
Antoine, the eldest of the sons, already combines the titles of managing director of the Christian Dior SE holding company, director of image and the environment of the group and managing director of Berluti.
As for the sons born of a second marriage, Alexandre Arnault is executive vice-president of the jeweler Tiffany, Frédéric CEO of the watchmaker Tag Heuer and Jean director of marketing and development of watches for Vuitton.
ats, awp, afp
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