Family reunion: Frédéric and Alexandre Arnault to become LVMH board members

A decision is set to be made at LVMH's next annual general meeting, scheduled for 18 April 2024, at which Bernard Arnault's two sons, Frédéric and Alexandre Arnault, and Henri de Castries will be proposed to replace Charles de Croisset, Yves-Thibault de Silguy and Nicolas Bazire.

The proposal of their appointment to the board was made by LVMH's board itself, on the advice of the Governance and Remuneration Committee, and came as De Croisset, De Silguy and Bazire announced their intention to step down.

Frédéric Arnault has been head of luxury watchmaker TAG Heuer since 2020, while Alexandre Arnault, whose career began with the purchase of the Rimowa luggage brand, of which he was co-director, has been executive vice-president of the American jeweller Tiffany & Co. since 2022.

The announcement reinforces the idea of a family empire, at a time when Bernard Arnault, the majority shareholder who will soon be 75, and is seemingly beginning to withdraw from the business.

Delphine and Antoine, two other children from the businessman's first marriage, already sit on the board of directors. Delphine Arnault, former deputy CEO of the Dior executive committee and deputy vice-president of Louis Vuitton, has been president of Christian Dior Couture since 2023. Antoine Arnault, CEO of Berluti and Chairman of Loro Piana, has been CEO of Christian Dior SE, the family holding company which controls LVMH, since 2022. Finally, Jean Arnault, the youngest of the family, aged 26, has been director of marketing and development for Louis Vuitton watches since the end of 2021.

As for Henri de Castries, he is the only one who does not belong to the siblings. The former CEO of the Axa insurance group has chaired the Institut Montaigne since 2015, which conducts studies and debates on public policy. For the record, he is descended from the family of the Marquis de Sade.

"I am delighted that Henri de Castries has agreed to join our board. His background, his independence and his human and professional qualities will be undeniable assets in the years to come. Finally, as I have always said, LVMH is a family-owned group whose vocation is to ensure the long-term development of each of its brands, while respecting what makes them unique and strong. I am therefore delighted to welcome Alexandre and Frédéric to the board. I am convinced that they will bring valuable insights to the board", said Bernard Arnault, CEO of the LVMH group, in the press release.