LVMH, Frederic Arnault appointed managing director of the holding | EUROtoday

Listen to the audio model of the article

The management of the Arnault household holding, which controls LVMH, passes to Frederic, son of the French magnate of the LVMH group. The appointment as managing director of Financiere Agache comes along with the function of CEO of LVMH Watches, the latest division answerable for the Hublot, TAG Heuer and Zenithdi manufacturers. In the brand new function, the supervisor born in 1995 replaces Nicolas Bazire and can be a part of the holding's board of administrators.

The generational transition due to this fact continues Bernard Arnault, 75, is pushing forward with its personal luxurious empire. In reality, all 5 of the president's kids maintain prime positions within the group which has manufacturers akin to Louis Vuitton and Dior in its portfolio. Frederic Arnault and his older brother Alexandre, 32, joined the board of LVMH in April, the place their siblings Antoine, 47, and Delphine, 49, already sat.

Now the change additionally involves the businesses on the head of the group. The monetary firm Agache, in truth, holds 96% of the Christian Dior household holding, which in flip controls 42% of LVMH.

The tycoon's kids

The 5 kids of the president and CEO of LVMH, Bernard Arnault, have progressively gained distinguished positions within the luxurious empire lately and at present all maintain prime administration roles. Starting with Delphine Arnault, born in 1975, grew to become president and CEO of Christian Dior Couture in February final yr. You beforehand served as Louis Vuitton's govt vice chairman and head of merchandise. She was additionally deputy normal director of Christian Dior Couture and is a member of the LVMH board of administrators and of the group's govt committee. Delphine graduated from the French enterprise faculty Edhec and the London School of Economics.

The second son, Antoine Arnault, born in 1977, is answerable for communications, picture and the setting at LVMH, in addition to president and CEO of the holding firm Christian Dior SE. He has been CEO of luxurious clothes and shoe model Berluti since 2012 and stays president of the model after stepping down as CEO earlier this yr. He has been president of Loro Piana since 2013 and was beforehand answerable for communications at Louis Vuitton. Also a member of the board of administrators of LVMH, he graduated from the French enterprise faculty Insead and the Canadian enterprise faculty Hec Montreal.