LVMH Shareholder Names Frederic Arnault as Managing Director

By Andrea Figueras

Frederic Arnault was appointed managing director of Financiere Agache, one of the holding companies through which the Arnault family controls LVMH Moet Hennessy Louis Vuitton, the world's largest luxury group.

The Arnault family owns--directly and indirectly through companies it controls--a controlling stake in the French luxury group that houses the Louis Vuitton, Christian Dior and Tiffany brands. Frederic Arnault is the son of Bernard Arnault, LVMH's chairman and chief executive officer.

The move comes as LVMH's plans to succeed Bernard Arnault, 75, at the helm of the company are still unclear. Arnault raised the retirement age for LVMH's chairman and CEO to 80.

Frederic Arnault, who was named chairman and chief executive of LVMH Watches in early January, will also be a member of Financiere Agache's board of directors, the holding company disclosed on its website. A company spokesperson confirmed the appointment on Thursday.

The move follows the expiration of Nicolas Bazire's mandate as director.

Frederic Arnault, 29, is one of the five children of French billionaire Bernard Arnault, all of whom are involved in LVMH's management.

Delphine Arnault, Arnault's eldest daughter, took over the role of CEO of Christian Dior Couture, the second-largest brand in the group, in February 2023 and is a member of both LVMH's board of directors and executive committee.

Antoine, Alexandre and Frederic are also members of the group's board, while the youngest son, Jean, is watch director of Louis Vuitton but has no seat on the board.

The Arnault family and the companies it controls--including Financiere Agache's parent, Agache--owned a 48.60% stake in LVMH and 64.33% of its voting rights at the end of last year, according to LVMH's latest annual report.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

June 06, 2024 09:30 ET (13:30 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.