Alexandre Arnault will become the new Executive Vice President of Moët Hennessy in 2025. This appointment is part of a leadership change at Bernard Arnault’s luxury group, LVMH. All five of Bernard’s children work at LVMH, raising speculation about his succession plans.
A leadership shake-up at Bernard Arnault’s multi-billion-dollar conglomerate LVMH has seen one of his sons take a new executive position.
LVMH said in a press release on Thursday that it made six new executive appointments after Bernard, 75, consulted with the company’s board of directors’ Sustainability and Governance Committee.
Bernard, CEO and chairman of LVMH, is the richest person in Europe. Bloomberg estimates that his fortune currently stands at $165 billion. All five of his children hold positions at LVMH, which has several subsidiaries, including Christian Dior and Tag Heuer.
Alexandre Arnault, Bernard’s third child, will serve as Executive Vice President of LVMH’s wine and spirits division, Moët Hennessy, starting in February 2025. Alexandre is currently Executive Vice President of Products and Communications at Tiffany & Co., which was acquired by LVMH. In 2021.
Alexandre Arnault and Bernard Arnault in 2016. Donato Sardella/Getty Images for Louis Vuitton
He will work alongside executive committee member Jean-Jacques Guionni, who LVMH said has been appointed president and CEO of Moët Hennessy.
Representatives for LVMH, Arnault and Guony did not respond to requests for comment from Business Insider.
Bernard’s decision to move Alexandre to Moët Hennessy is not unusual for the billionaire, who has made similar appointments to his other children this year.
Bernard Arnault, who owns LVMH, is the richest person in Europe. Reuters
In April, Bernard said that two of his sons – Alexander and Frederic – would join the LVMH board. Four of his five children now sit at the board.
His eldest son, Delphine Arnault, is CEO and Chairman of the Board of Directors of Christian Dior Couture and has been a member of the Board of Directors since 2003. Antoine Arnault, Director of Image and Environment at LVMH, joined the Board of Directors in 2006. Antoine is also Chairman and CEO of Christian Dior SE.
Frédéric is Chairman and CEO of the watch company LVMH. He was appointed head of one of the holding companies that controls LVMH in June.
The only child not on the board is Jean Arnault, the youngest son. Jin is the director of the watch division at LVMH.
The new appointments also raise speculation about who will succeed Bernard as LVMH CEO.
Arnault’s family has been compared to the Roy family, the subject of the HBO drama “Succession.”
Bernard has denied reports that his family resembles the Roy family’s heated battle for the top.
“The best person inside or outside the family should be my successor one day,” Bernard told the New York Times in 2023. “But that’s not something I hope will be a duel in the near future.”
Correction: November 14, 2024 – An earlier version of this story misstated how rich Bernard Arnault is. He is the richest person in Europe, not in the world. It also misstated Alexandre Arnault’s future role in the company. He will be executive vice president of Moët Hennessy, not CEO.
