PARIS (Reuters) – Two of the sons of Bernard Arnault, CEO of LVMH, joined the board of directors of the luxury giant on Thursday, a new signal of a desire to strengthen the family roots of a sprawling empire whose activity ranges from fashion to hospitality.
LVMH shareholders approved the appointments of Alexandre and Frédéric Arnault, the two brothers aged 31 and 29, joining Delphine and Antoine Arnault, 49 and 46, on the board of directors.
Bernard Arnault’s five children all hold key management positions, including the youngest of the siblings, Jean Arnault, 25.
On Thursday, during the general meeting, shareholders also approved the appointment of French businessman Henri de Castries to the board of directors.
Bernard Arnault, 75, recently reshuffled the management of LVMH while reaffirming his intention to remain at the head of the group, the businessman having notably declared in January that he had no intention of leaving in the short or medium term .
The group raised the age limit for its role to 80 two years ago.
(Report by Mimosa Spencer, by Augustin Turpin, edited by Blandine Hénault)
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