Bernard Arnault, co-founder, chairman, and chief executive officer of LVMH Moët Hennessy – Louis Vuitton SE named his daughter Delphine to run LVMH’s second-biggest brand, Dior. This move by the 73-year-old comes a month after he appointed his eldest son Antoine Arnault as chief executive officer and vice chairman of Christian Dior SE, the holding company through which the family controls LVMH.
Antoine Arnault replaced Sidney Toledano in the role. There's been no sign that Bernard Arnault would step back any time soon. Last year, LVMH lifted the age limit of its CEO, allowing the family patriarch to stay at the helm until he’s 80, Bloomberg reported.
47-year-old Delphine Arnault will now head Dior, which is part of the conglomerate that controls high-end brands including Fendi and Louis Vuitton and is worth about £336bn. The outgoing head of Dior, Pietro Beccari, will move to replace long-time Louis Vuitton chief executive Michael Burke, BBC reported.
All five of Arnault's children now hold management positions in Europe’s most valuable company. Alexandre Arnault, 30, is in charge of products and communication at Tiffany, while Frederic Arnault, 28, is chief executive of another group brand, Tag Heuer and the youngest sibling 24-year-old Jean Arnault, heads marketing and product development for Louis Vuitton's watches division.
Delphine had been holding the position of LVMH's executive vice president for Louis Vuitton since 2013.