🔴 LIVE: The Secrets of ProPicks AI Success Revealed + November’s List FREEWatch Now

LVMH's Arnault brushes off succession question

Published 01/26/2023, 01:20 PM
Updated 01/26/2023, 01:27 PM
© Reuters. Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, speaks during a news conference to present the 2022 annual results of LVMH in Paris, France, January 26, 2023. REUTERS/Gonzalo Fuentes

PARIS (Reuters) - Bernard Arnault, the boss of luxury giant LVMH and the world's richest man, brushed away questions about his succession with a joke on Thursday.

The 73-year old earlier this month reshuffled top management at his luxury goods empire, tightening his family's grip with the appointment of his daughter Delphine to lead Christian Dior, and naming a new boss for Louis Vuitton.

© Reuters. Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, speaks during a news conference to present the 2022 annual results of LVMH in Paris, France, January 26, 2023. REUTERS/Gonzalo Fuentes

Asked by an analyst about succession plans at a post-results conference where his children featured prominently in the front row, Arnault said: "You will have noticed that the retirement age is being raised."

France is in the middle of a pension reform that would increase the age for retiring to 64 from 62 currently, and is being fiercely opposed by unions.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.