LVMH's Frederic Arnault named managing director of family-holding Financiere Agache
The appointment was confirmed by a company spokesperson
Paris: Frederic Arnault, one of LVMH Chairman and CEO Bernard Arnault's five children and heirs, has been named managing director of the family holding company Financiere Agache, adding to his roles in the sprawling luxury empire.
Frederic Arnault, 29, who is chairman and CEO of LVMH watches, replaces Nicolas Bazire, and will also serve on the board of the holding company as a representative of Agache, the family company that controls it, the company website showed.
The appointment was confirmed by a company spokesperson on Wednesday.
On Monday, a court began hearing an appeal by Bazire and others convicted of participating in a kickback system that allowed the secret financing of Edouard Balladur's 1995 French presidential campaign.
All five of the LVMH chairman's children hold top management roles in the luxury group, the world's largest, with labels Louis Vuitton and Dior.
Frederic Arnault and his older brother Alexandre, 32, were approved in April to join the LVMH board, whose members also include siblings Antoine, 47, and Delphine, 49.
Bernard Arnault, 75, recently reshuffled the top ranks of management at LVMH, but has shown no signs of stepping back, saying in January that he did not intend to leave in the near or medium term.
The group raised the age limit for his role to 80 two years ago.
Financiere Agache owns 96 per cent of family holding company Christian Dior, which holds 42 per cent of LVMH.
LVMH roles held by Bernard Arnault's children
LVMH Chairman and CEO Bernard Arnault's five children have been moving up the ranks of the luxury empire. All of them hold top management roles in the company:
DELPHINE ARNAULT, 49, became chairman and CEO of fashion label Christian Dior Couture in February last year. She was previously executive vice president of Louis Vuitton, in charge of products. She has also served as deputy managing director of Christian Dior Couture, and is a member of LVMH's board of directors and the group's executive committee. Delphine graduated from French business school EDHEC and the London School of Economics.
ANTOINE ARNAULT, 47, is head of communications, image and environment for LVMH as well as chairman and CEO of LVMH holding company Christian Dior SE. He was CEO of the upscale menswear and shoe label Berluti from 2012 and remains chairman of the label after stepping down as CEO at the start of the year. He has been chairman of Italian cashmere specialist Loro Piana since 2013. Previously head of communications at Louis Vuitton, he is a member of LVMH's board of directors. Antoine has degrees from French business school INSEAD and Canadian business school HEC Montreal.
ALEXANDRE ARNAULT, 32, is executive vice president, in charge of product and communications at Tiffany. He was previously CEO of luggage-maker Rimowa, a position he held for four years starting in 2016. Alexandre has a masters degree from France's Ecole Polytechnique. He is a member of LVMH's board of directors.
FREDERIC ARNAULT, 29, has been Chairman and CEO of LVMH watches since January 2024. He is also managing director of the family holding Financiere Agache. Frederic was CEO of Tag Heuer from 2020 to 2023. He was previously head of strategy and digital director at the watch label, which he joined in 2017. Frederic is a graduate of France's Ecole Polytechnique and is a member of LVMH's board of directors.
JEAN ARNAULT, 25, has been director of marketing and development of Louis Vuitton's watches division since August 2021, when he joined. Jean has a masters degree in financial mathematics from Massachusetts Institute of Technology and in mechanical engineering from Imperial College London.