Following a recent shareholder vote, two sons of Bernard Arnault, the world-renowned entrepreneur and currently ranked as the wealthiest individual by Forbes, have been appointed to the board of LVMH, a leading French luxury goods conglomerate.
The inclusion of Arnault’s sons reinforces the family’s influence within the company, with the pair joining their elder siblings on the board of directors. With this addition, four out of Bernard Arnault’s five children now hold positions on the board.
Alexandre, aged 31, serves as the executive vice-president of Tiffany, while Frédéric, aged 29, assumes the role of CEO at Tag Heuer, a prominent Swiss luxury watchmaker.
During the shareholder meeting, each son received a vote of over 93%, aligning with expectations given the family’s substantial ownership of LVMH. The Arnault family collectively holds 48.6% of LVMH’s capital and commands 64.3% of its voting rights.
Acknowledging the family’s significant stake in the company, Bernard Arnault commented, “I’ve got the majority of votes, so…” indicating their considerable influence in corporate decision-making.
Additionally, two other children from a prior marriage, Delphine, aged 49, and Antoine, aged 46, already serve as board members. However, the youngest sibling, Jean, aged 26, is yet to join the board, with Arnault citing his youth as a factor.
In a related development, LVMH has nominated Wei Sun Christianson to succeed Antonio Belloni, the departing number two executive of the group. Christianson, previously associated with American investment bank Morgan Stanley, is recognized for her expertise in Chinese business affairs, a crucial market for LVMH.
Bernard Arnault emphasized the importance of Christianson’s appointment, highlighting the strategic significance of China for the group’s operations. He noted, “The group has a strong presence in China, so it’s important to have precise views on what’s happening,” underlining the company’s focus on the Chinese market.
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