The luxury conglomerate LVMH, valued at billions of dollars and founded by billionaire Bernard Arnault, has made a significant leadership change. This has led to one of his children, Alexandre Arnault, being appointed to a new executive role at the company.
Leadership Change at LVMH
On November 14, LVMH announced that it had made six changes to its executive board. This decision followed consultations between Bernard Arnault, aged 75, and the company’s Board of Directors and Sustainability & Governance Committee.
Bernard Arnault, the CEO and Chairman of LVMH, is currently the richest person in the world outside of the United States, with a net worth of $158.5 billion. All five of his children hold key positions within LVMH, a conglomerate with several high-profile subsidiaries, including Christian Dior, Louis Vuitton, and Tag Heuer.
Alexandre Arnault Appointed New CEO of Moët Hennessy
Alexandre Arnault, Bernard’s third son, will assume the role of Executive Vice President of the Moët Hennessy division, which oversees the conglomerate’s prestigious wine and spirits brands, starting in February 2025. Alexandre is currently Executive Vice President of Product and Communications at Tiffany & Co., a company acquired by LVMH in 2021.
In his new role, Alexandre will work alongside Jean-Jacques Guiony, who has been appointed as the Chairman and CEO of Moët Hennessy.
Arnault Family’s Continued Control of LVMH
The Arnault family continues to hold significant power at LVMH, with four of Bernard’s five children occupying prominent roles within the company. Delphine Arnault, Bernard’s eldest daughter, is the CEO and Chairman of Christian Dior Couture and has been a member of the LVMH Board of Directors since 2003. Antoine Arnault, the Director of LVMH’s Image and Environment, joined the board in 2006 and is also the Chairman of Christian Dior SE. Frédéric Arnault, Bernard’s son, is the Chairman and CEO of LVMH’s Watch Division.
Jean Arnault, the youngest son, serves as the Director of Watches at LVMH but is not part of the Board of Directors.
Speculation on Bernard Arnault’s Successor
The appointment of Alexandre Arnault to the CEO position at Moët Hennessy has sparked speculation about who will eventually succeed Bernard Arnault as the CEO of LVMH. However, Bernard has denied any claims of a power struggle within his family, akin to the drama in the HBO series “Succession”.
Bernard told The New York Times in 2023, “The best person, whether inside or outside the family, will one day succeed me. But I hope that won’t be a struggle in the near future.”
LVMH continues to make strategic leadership moves as it transitions power within the Arnault family, ensuring that the empire remains in capable hands for years to come.
