Bernard Arnault’s son Alexandre is climbing the ranks as new deputy of Moët Hennessy. Here’s what it means for LVMH’s succession plan

Fortune11-15

Alexandre Arnault, one of LVMH CEO Bernard Arnault’s children, is set to become the deputy chief of the French luxury conglomerate’s main spirits brand, Moët Hennessy. The 32-year-old Alexandre, who ...

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Here’s what it means for LVMH’s succession plan","media":"Fortune","content":"<div>\n<p>Alexandre Arnault, one of LVMH CEO Bernard Arnault’s children, is set to become the deputy chief of the French luxury conglomerate’s main spirits brand, Moët Hennessy. \nThe 32-year-old Alexandre, who ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bernard-arnault-son-alexandre-climbing-114554982.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bernard Arnault’s son Alexandre is climbing the ranks as new deputy of Moët Hennessy. 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Here’s what it means for LVMH’s succession plan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-15 19:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bernard-arnault-son-alexandre-climbing-114554982.html><strong>Fortune</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alexandre Arnault, one of LVMH CEO Bernard Arnault’s children, is set to become the deputy chief of the French luxury conglomerate’s main spirits brand, Moët Hennessy. \nThe 32-year-old Alexandre, who ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bernard-arnault-son-alexandre-climbing-114554982.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LVMHF","symbol_name":"LVMH-Moet Hennessy Louis Vuitton","start_time":0,"source_url":"https://finance.yahoo.com/news/bernard-arnault-son-alexandre-climbing-114554982.html","article_id":"2483371152","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/CW7OoVM7tm8d3WuaVQtYUg--~B/aD0xMzY1O3c9MjA0ODthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/fortune_175/285cc2149b57a47bd46a4d775d74acf7"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483371152","pubTimestamp":1731671154,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Alexandre Arnault, one of LVMH CEO Bernard Arnault’s children, is set to become the deputy chief of the French luxury conglomerate’s main spirits brand, Mot Hennessy.The 32-year-old Alexandre, who has had executive roles at LVMH-owned brands Tiffany and Rimowa, will soon head the wine and spirits division as part of a broader leadership shuffle underway at the world’s biggest luxury company. He will start his new role in February.Mot Hennessy, which appears in the LVMH name, is one of the company’s most historically lucrative divisions.“I’m excited to step into a new chapter within LVMH’s Wines & Spirits division, embracing this foundational part of our Group’s heritage,” he said on X.\"LVMH have clearly made a concerted effort to show that his leadership and business skills must further develop through different cycles of experience within the family business,\" said Clare Stirzaker, partner at the private client & tax team at law firm Boodle Hatfield LLP. \"We typically see a much great","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LVMHF":"LVMH-Moet Hennessy Louis Vuitton","BK4202":"服装、服饰与奢侈品","LVMUY":"路易威登"},"translate_title":"伯纳德·阿尔诺(Bernard Arnault)的儿子亚历山大(Alexandre)正在晋升为酩悦轩尼诗(Moët Hennessy)的新任副手。这对LVMH的继任计划意味着什么","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LVMHF":0.9,"LVMUY":0.9},"content_text":"Alexandre Arnault, one of LVMH CEO Bernard Arnault’s children, is set to become the deputy chief of the French luxury conglomerate’s main spirits brand, Moët Hennessy. \nThe 32-year-old Alexandre, who has had executive roles at LVMH-owned brands Tiffany and Rimowa, will soon head the wine and spirits division as part of a broader leadership shuffle underway at the world’s biggest luxury company. He will start his new role in February.\nMoët Hennessy, which appears in the LVMH name, is one of the company’s most historically lucrative divisions.\n“I’m excited to step into a new chapter within LVMH’s Wines & Spirits division, embracing this foundational part of our Group’s heritage,” he said on X.\n\nFour years ago, I had the privilege to help reimagine Tiffany & Co., one of the world’s most iconic brands. Looking back, I am profoundly grateful to the remarkable Tiffany teams and friends of the brand who poured their passion and talent into this journey, helping us push… pic.twitter.com/Qsqkas4A2C— Alexandre Arnault (@alexarnault) \n November 14, 2024\n\nAlexandre’s appointment coincides with a wave of the conglomerate’s old guard stepping back from their roles, including the abrupt departure of LVMH’s human resources chief Chantal Gaemperle.\nBut there’s also a symbolic meaning for the move as it reflects Bernard Arnault’s “careful strategy of preparing the next generation with high-impact roles across the group’s portfolio,” Alan Hunt, partner at law firm Lewis Silkin told Fortune. \nIt could eventually lead to his climb further up the ranks. For one, Alexandre will become Jean-Jacques Guiony's deputy CEO, who is also LVMH’s CFO and is set to leave the company in February.\n“By transitioning to a Paris HQ position, Alexandre gains proximity to the group’s strategic core,” Hunt said. “For LVMH, such appointments reflect a blend of immediate business needs and long-term leadership development, ensuring the family legacy remains intertwined with the group’s continued innovation and global dominance.\"\n\n\n\n  Alexandre Arnault, executive vice president of product and communications at Tiffany & Co., during an LVMH Moet Hennessy Louis Vuitton SE earnings news conference at the company's headquarters in Paris, France, on Thursday, Jan. 25, 2024. LVMH sales rose at the end of last year as wealthy shoppers treated themselves to the group's pricey handbags and Champagne, a sign of resilience at the world's largest luxury conglomerate. Photographer: Benjamin Girette/Bloomberg via Getty Images\n \n\nAlexandre also became part of the LVMH board earlier this year along with his younger brother Frédéric, joining two of their older siblings who already hold seats. \n\"LVMH have clearly made a concerted effort to show that his leadership and business skills must further develop through different cycles of experience within the family business,\" said Clare Stirzaker, partner at the private client & tax team at law firm Boodle Hatfield LLP. \"We typically see a much greater focus on the family's governance structure at such a time, reassessing the level of control and influence any one individual has.\"\nThe Arnault family and succession planning\nAny changes in the Arnault family’s role at LVMH are closely followed for hints on who might take the mantel from the 75-year-old Bernard Arnault, who claims to have no plans to retire. (He even pushed his retirement age up to 80.) The patriarch has insisted that the much-awaited decision on who will succeed him is still undecided.\nVarious factors are currently impacting LVMH, including sluggish demand from luxury growth engines like China and an overall shift in what consumers consider luxury. That’s caused Bernard Arnault’s wealth to waver more than usual. \nDespite blips in recent years, the French company run by Europe’s richest man is a juggernaut in every regard. The wine and spirits division was the only one to see revenues decline in 2023, with a similar trend continuing into the first half of 2024. \nSince founding the company in 1987, Bernard Arnault has slowly but surely created one of the superpowers in Europe. Now, each of his five children is part of the business. \nDelphine, 49, is the chair and CEO of Christian Dior Couture, while Antoine, 47, is the conglomerate’s image and environment director and Berluti’s chairman. Frédéric, 30, leads LVMH’s watch brands and also runs the family holding company, Financiere Agache.  \nThe youngest of the five siblings, Jean, 26, is the marketing director at LVMH’s watch division.\nAlexandre may be one of the many Arnaults tasked with ushering in the French conglomerate’s new era, but he has already made his mark. He is social media savvy and has taken risks that paid off in helping turn the American jeweler Tiffany around. He has friends among the tech world’s elite and is well-traveled (his role at Rimowa was based in Germany, while Tiffany is based in the States). \n\n\n\n\n\n\n\n\n\n\n\n\n\n     View this post on Instagram\n    \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nA post shared by A.A (@alexandrearnault)\n\n\nThis story was originally featured on Fortune.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483371152"}