Two sons of the world's richest man Bernard Arnault have joined the board of LVMH after a shareholder vote.
French world’s top luxury group LVMH CEO Bernard Arnault addresses the group’s general meeting in Paris on April 18, 2024. – LVMH said on April 16 that its first quarter revenues slid by two percent, with inflation worries knocking back wine and spirits sales but cosmetics and perfume getting a lift. Image: Miguel MEDINA / AFPFrench world’s top luxury group LVMH CEO Bernard Arnault addresses the group’s general meeting in Paris on April 18, 2024.
The Arnault family group holds 48.6 percent of LVMH’s capital and 64.3 percent of the votes, a fact Arnault acknowledged shortly ahead of the proceedings.Two other children from a previous marriage, Delphine, 49, and Antoine, 46, are already board members, but the youngest sibling, Jean, 26, still has to wait his turn.LVMH also nominated Wei Sun Christianson to succeed Toni Belloni, the group’s number two, who announced his departure at the end of March.
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