Financier Agache Announces Appointment of CEO Frederick
Frederic Arnault, the fourth child of Bernard Arnault, chairman of the world's largest luxury company Louis Vuitton Mo?t Hennessy (LVMH), has been appointed as the CEO of LVMH's holding company. Frederic is known for having been linked romantically several times with Lisa from the girl group BLACKPINK.
According to foreign media including the Financial Times (FT) on the 6th (local time), Financi?re Agache, the Arnault family holding company of LVMH, announced on its website that Frederic has been appointed as the managing director, succeeding Nicolas Bazire.
The Arnault family holds 48% of LVMH Group's shares and 64% of the voting rights. LVMH owns brands such as Louis Vuitton, Dior, and Tiffany.
Like his father, Frederic graduated from Ecole Polytechnique, a prestigious French engineering school. In 2020, he was appointed CEO of TAG Heuer, and in January this year, he was promoted to CEO of LVMH's watch division, overseeing watch brands including Hublot, Zenith, and TAG Heuer. Bernard Arnault's children, four sons and one daughter, are all involved in managing the LVMH Group. Frederic and his older brother Alexandre Arnault joined the LVMH board of directors in April.
The succession plan for LVMH has not yet been formalized. Although Bernard Arnault, currently 75, has extended the CEO age limit to 80 and has expressed no intention of stepping down from the front line of management for the time being, some analysts believe he is cautiously preparing the groundwork for succession. In an interview with the New York Times (NYT) last year, he also stated, "There is no law or necessity to pass the company on to my children."
Chairman Arnault is one of the wealthiest people in the world, owning approximately $229 billion (313 trillion KRW) in assets. Since early 2023, he has placed all five of his children in key positions, and they are all active in the management team.
The eldest daughter, Delphine Arnault, was appointed CEO of Christian Dior, and the eldest son, Antoine Arnault, serves as CEO of Christian Dior SE as well as head of image and sustainability. Alexandre Arnault is in charge of communications for the American jewelry brand Tiffany & Co., and the youngest son, Jean Arnault, was appointed product development and marketing director of Louis Vuitton's watch division last year.
Meanwhile, Frederic has been linked romantically several times with Lisa from the girl group BLACKPINK. Their dating rumors first surfaced in July last year when they were spotted enjoying a date at a restaurant in Paris, France. Since then, they have been seen together multiple times at locations such as an airport lounge in Los Angeles and in Bangkok.
On the 3rd of last month, Lisa also attended a TAG Heuer event. However, neither of them has commented on the dating rumors.
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