Bernard Arnault is the richest person in the world. Edward Berthelot/Getty Images
Bernard Arnault has appointed two more of his children to the LVMH board.
Alexandre Arnault is a vice president at Tiffany & Co, while Frédéric Arnault heads LVMH’s watch division.
This means that four of Bernard Arnault’s five children now sit on the board of the luxury group.
This is a machine translation of an article from our US colleagues at Business Insider. It was automatically translated and checked by a real editor.
The French luxury goods billionaire Bernard Arnault, the richest person in the worldhas appointed two more of his children to the LVMH board.
Arnault announced the appointments on Thursday following a vote at LVMH’s annual general meeting.
The new members are Alexandre Arnault, Executive Vice-President of Product, Communications and Industrial at Tiffany & Co, and Frédéric Arnault, Head of Watches at LVMH.
Four of Bernard Arnault’s five children are now in the LVMH-Board.
Delphine Arnault, his eldest child and CEO of Christian Dior Couture, has been a member of the board since 2003, while Antoine Arnault, CEO of Christian Dior SE, the holding company through which the family controls LVMH, joined the board in 2006.
Only Jean Arnault, Bernard Arnault’s youngest son, does not sit on the company’s board of directors. Jean Arnault is a director in the watch department at Louis Vuitton.
Who should take over the succession in the LVMH empire?
Bernard Arnault, who co-founded LVMH in the 1980s, is the CEO and chairman of the French luxury group. His brands include Louis Vuitton, Dior, Marc Jacobs, Givenchy, Moët & Chandon and Fenty Beauty.
Bernard Arnault is currently the richest person in the world with a net worth of around 221 billion dollars – according to Bloomberg estimates.
He has spent their lives preparing his children for leadership positions at LVMH and has never publicly commented on who should take over his role at the company in the future.
“The best person inside or outside the family should one day be my successor,” said Bernard Arnault New York Times in September: “But I don’t hope it’s a duel in the near future.”
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