Bernard Arnault, the billionaire chairman of French luxury group LVMH, has dismissed media reports of a bitter succession battle among his five children, insisting in rare public comments about his family that it remains united.
Succession Planning
Investors have long sought greater clarity on who will eventually succeed Arnault, 77, after nearly four decades at the helm of the luxury conglomerate. Some say the lack of visibility over succession planning is becoming a risk for LVMH.
Arnault, who oversees the €230 billion ($262 billion) owner of brands including Louis Vuitton, Dior and Tiffany, has shown no sign of stepping down and has yet to name a successor.
In a lengthy post on X responding to a recent series of reports by French daily Le Monde, Arnault dismissed suggestions of family divisions as fiction.
His five children — Delphine and Antoine Arnault from his first marriage, and Alexandre, Frederic and Jean from his second — all hold senior roles within the group.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
