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French businessman, majority shareholder and Chairman and CEO of the LVMH group, Bernard Arnault is going to modify the group’s articles of association in order to keep control of it for another five years.
Bernard Arnault, who just turned 73 on March 5, wants to raise the age limit for the position of CEO of the group from 75 to 80. Indeed, the leader of LVMH imposes in its articles of association a ceiling of 75 years for the position of Chairman and CEO, which for the moment remains unchanged.
In this sense, a modification of the LVMH group’s articles of association will be proposed by Bernard Arnault to the shareholders at the next general meeting, on 21 April. Thus, if the proposal is accepted by the shareholders, Bernard Arnault will pass the torch in 2029 and not in 2024.
“He will be Chairman for the rest of his life and that is what we all want, there is no question of him stopping,” said one of Bernard Arnault‘s five children.
However, the luxury emperor has still not officially mentioned the date of his departure or who will be his potential successor, even if there are questions about one of his five children who already work alongside him. However, his capital succession has already been prepared, with nearly 75% of LVMH already passed on in bare ownership to his five children, as well as to his two nephews. But he still retains 25% of the group, the usufruct of the entire group and the choice of the future CEO of LVMH.
Read also > BERNARD ARNAULT LOSES $5 BILLION AS LVMH SHARE PRICE FALLS
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French businessman, majority shareholder and Chairman and CEO of the LVMH group, Bernard Arnault is going to modify the group’s articles of association in order to keep control of it for another five years.
Bernard Arnault, who just turned 73 on March 5, wants to raise the age limit for the position of CEO of the group from 75 to 80. Indeed, the leader of LVMH imposes in its articles of association a ceiling of 75 years for the position of Chairman and CEO, which for the moment remains unchanged.
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French businessman, majority shareholder and Chairman and CEO of the LVMH group, Bernard Arnault is going to modify the group’s articles of association in order to keep control of it for another five years.
Bernard Arnault, who just turned 73 on March 5, wants to raise the age limit for the position of CEO of the group from 75 to 80. Indeed, the leader of LVMH imposes in its articles of association a ceiling of 75 years for the position of Chairman and CEO, which for the moment remains unchanged.
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