Chairman Bernard Arnault has confirmed he wants to extend the age limit associated with leading the company for a second time.
In 2022, shareholders voted in favour of a resolution extending the age limit fixed in the company's bylaws to 80 from 75.
According to various media reports, a resolution to increase the age limit for the company's chief executive officers —this time to 85 — will be submitted to shareholders at the upcoming annual general meeting in April.
"Despite ongoing speculation about his succession plans, the 76-year-old businessman has shown no indication that he intends to retire," writes Joelle Diderich for MSN.
"A series of management reshuffles has tightened the Arnault family's grip on the leadership of the world's biggest luxury group. At last year's AGM, shareholders overwhelmingly approved the appointment of his sons Alexandre Arnault and Frédéric Arnault to the board of directors.
"They joined their siblings Antoine Arnault, head of communication, image and environment at LVMH, and Delphine Arnault, chairman and CEO of Christian Dior Couture, on the board."
Speculation around the company's next leader accelerated in 2023 when Arnault joked that the next CEO would be the best person fit for the job — and not necessarily a member of his family.
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