Bernard Arnault Wants To Run LVMH Until He Is 85
A resolution regarding extending the age limit for CEO of LVMH will be raised to the shareholders.
Bernard Arnault has no signs of slowing when it comes to helming LVMH. Currently 76-years-old, the French billionaire hopes to run the company until he is 85. With no plans to retire, Arnault is once again hoping that shareholders will agree to extending the age limit for remaining at the helm of the luxury conglomerate.
In a scheduled annual general meeting set to take place on April 17, the LVMH CEO will propose a resolution to increase the age limit and continue to serve at the helm until he is 85. Back in 2022, he shareholders voted in favor of a resolution that extended the age limited from 75 to 80. The news come after a series of management reshuffles and new appointments for his sons. Just at last year’s AGM, the shareholders were heavily for the appointments of his sons Alexandre Arnault and Frédéric Arnault to the board of directors. The two brothers joined siblings Antoine and Delphine Arnault who are the head of communication, image and environment at LVMH and chairman and CEO of Christian Dior Couture, on the board, respectively. Alexandre has been promoted to deputy CEO of Moët Hennessy, LVMH’s wines and spirits division while Frédéric joins Loro Piana as its CEO. The youngest sibling, Jean Arnault, is the director of watches at Louis Vuitton.
The family-run firm posted €84.7 billion EUR in 2024 and the Arnault family currently owns 49% of LVMH’s share capital as well as 64.8% of the voting rights. Whether or not Bernard will be able to be at the helm of LVMH until he is 85 will be determined at the next general meeting next month.
