STAYING ON: Bernard Arnault wants to once again extend the age limit for remaining at the helm of LVMH Moët Hennessy Louis Vuitton.
A resolution to increase the age limit for him to serve as chief executive officer to 85 will be submitted to shareholders at the luxury conglomerate’s annual general meeting, scheduled to take place on April 17, according to a preliminary document published on LVMH’s website.
Despite ongoing speculation about his succession plans, the 76-year-old businessman has shown no indication that he intends to retire. In 2022, LVMH shareholders voted in favor of a resolution extending the age limit fixed in the company’s bylaws to 80 from 75 previously.
A series of management reshuffles has tightened the Arnault family’s grip on the leadership of the world’s biggest luxury group. At last year’s AGM, shareholders overwhelmingly approved the appointment of his sons Alexandre Arnault and Frédéric Arnault to the board of directors.
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They joined their siblings Antoine Arnault, head of communication, image and environment at LVMH, and Delphine Arnault, chairman and CEO of Christian Dior Couture, on the board.
In the interim, Alexandre Arnault has been promoted to deputy CEO of Moët Hennessy, LVMH’s wines and spirits division, while Frédéric Arnault, currently CEO of LVMH Watches, is set to take over as CEO of Loro Piana. The youngest sibling, Jean Arnault, is director of watches at Louis Vuitton.
Bernard Arnault has frequently described the conglomerate, which posted sales of 84.7 billion euros in 2024, as a family-run firm. The Arnault family’s holding company owns 49 percent of LVMH’s share capital and 64.8 percent of the voting rights.
