The Son of LVMH Chairman Bernard Arnault Takes the Leading Role at His Main Holding Company
Frédéric Arnault, a son of Bernard Arnault, has been appointed as the managing director of Financière Agache, the main holding company of the luxury tycoon. This news was confirmed on the company’s website.
Arnault’s promotion is significant as he is part of the lineup alongside his four siblings – Delphine Arnault, Antoine Arnault, Alexandre Arnault, and Jean Arnault – to potentially succeed their father as the head of LVMH Moët Hennessy Louis Vuitton.
The parent company of Financière Agache, Agache, is a limited partnership controlled by the Arnault family and holds majority stakes in Dior SE and LVMH SE.
Frédéric Arnault is taking over from Nicolas Bazire in the managing director role and also represents Agache SCA on the holding company’s board of directors.
Prior to this role, Arnault was appointed as the chief executive officer of LVMH Watches earlier this year. This position was newly created to oversee prestigious timepiece makers such as Hublot, Zenith, and Tag Heuer. Before this, he served as the CEO of Tag Heuer.
In April, both Frédéric and his brother, Alexandre Arnault, joined LVMH’s board of directors as Nicolas Bazire stepped down. Bazire is currently awaiting the start of his appeals trial related to the Karachi Affair, which involves arms deals with Pakistan and Saudi Arabia in the 1990s.
As part of a strategic move to pass control of the entity to Bernard Arnault’s five children, Financière Agache announced plans to convert into a limited joint-stock partnership by 2022. This restructuring aims to ensure long-term family control and a unified voice in decision-making for Christian Dior SE and LVMH SE.
