The race to find the heir to lvmh

LVMH Group CEO, billionaire Bernard Arnault has not yet decided exactly who will inherit his position. Mr. Bernard Arnault is 73 years old this year. But he was still very sharp and determined. Capital, he plans to retire at the age of 75. But in the upcoming shareholder meeting, according to the LVMH group, it will propose to raise the age limit for the position of chief executive officer (CEO) to 80. If the proposal is approved, Mr. Bernard Arnault can continue to practice until the age of 80.

The race to find the heir to lvmh

This news made the investors of LVMH group breathe a sigh of relief. Since the so-called “cashmere-clad wolf” took over the company in 1989, investors in LVMH have received an average return of 14% annually, much higher. compared with the average return from the European stock exchange.

He has many years of experience steering the corporation through stormy times, such as the dotcom bubble in 2000, the US financial crisis in 2008, the global COVID-19 pandemic in 2020, and now the war. Russia – Ukraine.

However, Reuters financial analyst Lisa Jucca sees this as a risk. Prada and Kering corporations have both confirmed heirs. Only LVMH is still hesitant to announce information about the heir. The longer it takes, the higher the risk.

Although the LVMH group has gone public, many financial analysts believe that the successor to the CEO position could be one of Mr. Bernard Arnault’s five children. All have graduated and are working at the corporation.

From the time the children were young, Mr. Bernard Arnault began to train them. During the day, they always exchange information continuously with each other. Whenever Mr. Bernard Arnault had the opportunity to visit factories or attend seminars, at least one in five people still followed in his father’s footsteps.

Every month, Mr. Bernard Arnault and his five children have lunch together at the headquarters of LVMH, 22 Avenue Montaigne, Paris. This is not just a casual lunch, but a conference and senior leadership training course. “He’s our dad, but he’s also our boss,” joked third son Alexandre Arnault.

The eldest daughter of Mr. Bernard Arnault is 46 years old and has worked for 2 decades at LVMH group. After graduating from university, Ms. Delphine Arnault worked at McKinsey Financial Group as a strategic consultant. From 2001 to 2013, she worked in the footwear design and manufacturing department of the Christian Dior brand.

Later, she moved to Louis Vuitton and became the vice president in charge of the brand’s product division. Delphine is the only child of Mr. Bernard Arnault on the board of directors of LVMH.

The person who is often compared to the crown prince of LVMH is 44 years old and has a happy marriage with Russian model Natalia Vodianova. He holds many important positions at LVMH group such as: Chairman of the brand board Loro Piana, CEO of Berluti, and Chief Image Officer of LMVH.

In the last position, he is in charge of all activities to maximize the strength of the brands under the group. But Antoine Arnault is best known as the character who successfully helped Berluti transform himself from a luxurious but old leather shoe brand into an elegant men’s fashion brand.

At the age of 29, Alexandre Arnault has made a splash when creating many hypebeast handshakes for brands under the LVMH group. The young man was the one who helped convince LVMH to bring the Rimowa suitcase brand under LVMH, proposing campaigns in collaboration with Supreme, Off-White and Fendi.

Then, when LVMH successfully acquired the jewelry brand Tiffany & Co, Alexandre Arnault took the position of vice president of product and communications. It was his idea that Tiffany & Co launched TiffCoin or an NFT product. This is also the brain that develops the e-commerce platform 24 Sèvres of LVMH group.

Before joining the family group, Frédéric Arnault used to start a pay-by-phone application with a friend, and then sold it to the French bank BNP. Thereafter, Frédéric Arnault joined TAG Heuer as chief digital and strategy officer. At the age of 25, he was promoted to the position of CEO of this luxury watch brand. TAG Heuer is now the most successful watch brand among the watch brands owned by the LVMH group.

The youngest of five siblings, Jean Arnault, is only 23 years old. He was assigned to be in charge of the watch division of the Louis Vuitton brand because he holds a master’s degree in mechanical engineering and financial mathematics. The young man fell in love with watchmaking when inspired by his brother Frédéric. He thinks that mechanical watches will return in the digital age.

However, Mr. Bernard Arnault’s children are not the only ones who have the opportunity to inherit the position of CEO of LVMH. Financial analysts believe that Mr. Bernard Arnault’s colleagues, who hold key positions at the group’s brands, have a good chance of being selected. All of the following people are on the board of directors of the LVMH group.

The 68-year-old man is extremely experienced in the field of business management and administration. Having worked for two decades with Procter & Gamble (P&G), he was promoted to the position of Chairman of P&G in 1999. Then in 2001, he joined LVMH group. From November 2021, Antonio Belloni is responsible for overseeing all of the group’s fragrance and cosmetic brands.

Mr. Michael Burke has accompanied Mr. Bernard Arnault since before LVMH was formed. At that time, the company was still Groupe Arnault. When fashion brands Christian Dior, Louis Vuitton, Fendi, Bulgari… slowly joined the group, Mr. Michael Burke all held the position of national managing director before being promoted to the position of managing director. Global. Now, he is also the chairman of the board of the brand Tiffany & Co.

Many financial analysts believe that Bernard Arnault may choose Sidney Toledano to inherit the position of CEO while waiting for his children to grow up. Mr. Sidney Toledano, 71 years old, is famous for helping to revive the Christian Dior brand since 1994. For his work in the fashion industry, he has been awarded many Medals of Honor.

This 65-year-old man is behind a series of mergers and acquisitions of brands under the LVMH group. Nicolas Bazire has a background in the navy and politics, before joining Bernard Arnault’s Groupe Arnault financial firm.