For LVMH CEO and France’s wealthiest man, Bernard Arnault is keeping the reigns over LVMH within the family. At 64, Bernard is already qualified to enjoy state pension, but looking at how LVMH as a group is expanding, there is no signs of him retiring from the top post of the world’s largest luxury goods company.
Though his recent actions made it clear that he is now paving the way for a successor, the two people seemingly being considered for the post are his own children. With him owning 46.5 of voting rights in LVMH, he definitely has a say on who is going to replace him. Two years ago he appointed his son Antoine to run Berluti and transform it into a menswear titan, and just a few weeks ago, his daughter, Delphine was posted as Executive Vice-President for Louis Vuitton. Both appointments are seen as a sort of audition for LVMH’s top post.
Bloomberg Businessweek reports, ‘Arnault knows a thing or two about fomenting rivalries. He was invited into LVMH in the 1980s by Henry Racamier, an heir to Vuitton, who was feuding with another faction in the company. Arnault helped Racamier see off his chief rival, then ousted Racamier and took over the bag maker.’
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