The Upcoming Resolution Proposes Raising the Retirement Age for CEOs to 85
Bernard Arnault, the influential figure at the helm of LVMH Moët Hennessy Louis Vuitton, has once again signaled his intention to extend the age limit for CEOs at the luxury conglomerate. An upcoming resolution, expected to be submitted at the annual general meeting scheduled for April 17, proposes raising the retirement age to 85. This most recent development resonates with Arnault’s prior motives, indicating no immediate intention of stepping down from his managerial role at 76.
Despite recurrent rumors about potential handovers, a resolution in 2022 that saw the company’s bylaws stretch the CEO’s age limit to 80 from 75 reaffirms Arnault’s commitment to the role. This confirmation, voted in favor of by shareholders, suggests that for at least the near future, the stalwart CEO is set to retain the reins.
LVMH, the world’s leading luxury group, has seen several management reshuffles in recent years that have fortified the Arnault family’s dominion over its leadership. The conglomerate’s annual assembly last year witnessed shareholders virtually unanimously endorsing the induction of Arnault’s sons, Alexandre and Frédéric Arnault, as board directors.
Alexandre has subsequently risen to the position of deputy CEO at Moët Hennessy in the enterprise’s wines and spirits division, while Frédéric is slated to assume the role of CEO at Loro Piana. Older siblings Antoine and Delphine Arnault, who are already holding significant roles at LVMH and Christian Dior Couture respectively, alongside their youngest brother Jean Arnault, who is Louis Vuitton’s director of watches, leave no ambiguity about the role of the family in the corporation.
Emphasizing the familial nature of his enterprise, Arnault often refers to the luxury giant as a family business. The Arnault family’s holding company, Groupe Arnault, holds considerable weight in the company, owning 49% of LVMH’s share capital and commanding 64.8 percent of the voting rights. With their most recent sales figures reaching 84.7 billion euros in 2024, their influence is evidenced not only in boardroom clout but also in the conglomerate’s immense financial dimension.