LVMH: Alexandre and Frédéric, two sons of Bernard Arnault, proposed to the board of directors

Luxury giant LVMH will propose the appointment of two of the sons of its CEO Bernard Arnault, Alexandre, 31, and Frédéric, 29, to its board of directors at its next general meeting in April, according to a press release published Thursday.

“LVMH is a family-oriented group whose aim is to ensure the long-term development of each of its houses (...) I am therefore delighted to welcome Alexandre and Frédéric to the board. I am convinced that they will provide valuable insight,” declared Bernard Arnault, quoted in the press release, while the group has just published record results for the year 2023. “This rejuvenates the executives even if I have not "I'm not planning to leave in the short or medium term, I'm here for a while," he added during a press conference to present the annual results.

Also read: Antoine Arnault (LVMH): “Luxury is not the problem, it is the solution”

Their appointment must be approved at the next general meeting of the luxury group, on April 18, as well as that of the former CEO of the insurer Axa and current president of the Institut Montaigne, Henri de Castries, 69, also proposed to sit on the board of directors of LVMH. Charles de Croisset, Yves-Thibault de Silguy and Nicolas Bazire are leaving the council, after serving 15 years for the first two, and 25 years for the last, according to the press release.

The penultimate of the five children of the boss of the luxury empire, Frédéric Arnault was named CEO of LVMH's new watch division in early January, overseeing the Hublot, Tag Heuer and Zenith brands. Frédéric Arnault, 29, a polytechnician like his father, began his career within the consulting firm McKinsey before joining Facebook's artificial intelligence research center (Meta group). He joined Tag Heuer in 2017 to manage the connected watch activities, before being appointed CEO of the brand in 2020. Alexandre, 31, is executive vice-president of Tiffany after having worked at the trunk maker Rimowa. In April 2019, he was appointed director of the Carrefour group in place of his father, until the resale of Carrefour shares held by Agache, the family holding company, in September 2021.

Bernard Arnault's five children now work for the world's number one luxury company. Delphine and Antoine, born from a first marriage, are also members of the board of directors of LVMH. Delphine, 48, is CEO of Dior. Antoine, 46, recently left the position of general director of Berlutti, retaining only the presidency, and "could take other responsibilities", according to a source close to the matter.

He is also chairman of Loro Piana, general manager and vice-chairman of the board of directors of the Christian Dior SE holding company which controls LVMH, and responsible for the image and environment of the LVMH group. The youngest of the siblings, Jean Arnault, 25, is director of marketing and watch development for Louis Vuitton.