In a move that solidifies the family’s control over LVMH, Bernard Arnault’s two sons, Alexandre and Frédéric, have been appointed to the board of directors following a shareholder vote. With this addition, four out of Bernard Arnault’s five children now hold positions on the board of the renowned French luxury goods company, which encompasses iconic brands such as Dior and Louis Vuitton.
Alexandre Arnault, 31, serves as the executive vice president of Tiffany, while his younger brother, Frédéric Arnault, 29, holds the position of CEO at Swiss luxury watchmaker Tag Heuer. Forbes magazine ranks Bernard Arnault and his family as the world’s wealthiest, with a staggering fortune of $214 billion, surpassing figures like Jeff Bezos and Elon Musk.
At the shareholder meeting, both sons received overwhelming support, with each garnering more than 93% of the votes. The Arnault family group already holds a significant stake in LVMH, owning 48.6% of the company’s capital and controlling 64.3% of the votes.
Bernard Arnault expressed confidence in the family’s control, stating, “I’ve got the majority of votes, so…”
The family’s influence doesn’t stop there. Two other children from Bernard Arnault’s previous marriage, Delphine, 49, and Antoine, 46, are already board members. However, the youngest sibling, Jean, 26, will have to wait his turn, as mentioned by the 75-year-old founder.
In addition to the board appointments, LVMH announced the nomination of Wei Sun Christianson to succeed Antonio Belloni, the group’s departing number two. Christianson, formerly of Morgan Stanley, brings extensive expertise on the Chinese market, a crucial region for LVMH’s growth strategy.
Bernard Arnault emphasised the importance of the Chinese market, stating, “The group has a strong presence in China, so it’s important to have precise views on what’s happening.”
With these strategic moves, LVMH continues to reinforce its leadership position in the global luxury market, leveraging both family control and expertise in key growth markets.
