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The CEO of Lvmh is acclaimed by its shareholders

The CEO of Lvmh is acclaimed by its shareholders

The CEO of Lvmh is acclaimed by its shareholders. At the general meeting of the luxury giant, held this Thursday morning, 81.6% voted in favor of the amendment of the bylaws setting the age limit for the functions of CEO to 80 years, against 75 years so far. This is a way of saluting the great resilience of the group in 2021 and again in the first quarter of 2022.

 

Now 73 years old, Bernard Arnault, the head of the world’s number one luxury goods company, will be able to play the prolonged within the group that he has led since 1989 and that he has considerably developed since.

 

Despite the presence of his five heirs within the group – Delphine (46), Antoine (44), Alexandre (29), Frédéric (26) and Jean (23) – at different levels of responsibility, Bernard Arnault continues to embody his success in the eyes of shareholders.

 

With a historic fiscal year 2021, with a turnover of 64 billion euros and a net profit of 12 billion euros, the group has been able to propose a dividend of 10 euros to its shareholders.

 

And despite the more tense international context, against the backdrop of reconfinement in China and the war in Ukraine, it announced in early April that it had achieved sales up 29% to 18 billion euros during the first three months of 2022.

 

The first quarter is good and the beginning of April is in the same vein,” said Bernard Arnault, although he admitted that what happens next “depends on a lot of things, in terms of the health situation in China and the geopolitical situation in Europe.”

 

The executive also touted Lvmh as an economic player. “You can be proud to be shareholders, not only by the results, not only by the dividends, but also by the economic footprint of the group in France.

 

A footprint quantified by the consulting firm Asteres and presented by Nicolas Bouzou, its director, in a video broadcast during the general meeting. Lvmh would generate “more than 145,000 full time jobs” and its tax revenues “5.5 billion euros“.

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The expert finally underlined the virtuous model of the group which “produces a lot on French soil and exports a lot“.

 

 

Read also > ESSILOR LUXOTTICA TO ACQUIRE ITALIAN LENS MANUFACTURER FEDON & FIGLI

 

Featured photo :  © Press

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