Bernard Arnault, the billionaire CEO and chairman of French luxury giant LVMH, is shuffling one of his children around at his companies again.
Frédéric Arnault, the chief executive’s 29-year-old son, has been tapped to be the CEO of Loro Piana, an Italian cashmere brand under LVMH.
The company said in a Wednesday statement that he will step into the role on June 10. Before the promotion, the younger Arnault led LVMH’s watches division.
Frédéric Arnault’s appointment was one of three across LVMH. Damien Bertrand, the current CEO of Loro Piana, was promoted to deputy CEO of Louis Vuitton, and Pierre-Emmanuel Angeloglou was appointed deputy CEO of Dior. According to his LinkedIn, Angeloglou is currently the managing director of LVMH’s fashion group and the CEO of Fendi.
“Our maisons’ desirability is fuelled by dedicated and passionate leaders. Damien, Frédéric and Pierre-Emmanuel’s vision, entrepreneurial spirit, creativity and commitment to excellence will be assets to pursue the dynamic development of our maisons,” Arnault said in the statement.
The move is the latest instance of Arnault, aged 76, shaking up leadership in LVMH and putting his five children in the upper echelons of its fashion houses.
In November, he appointed his third-eldest child, Alexandre Arnault, as the deputy CEO of LVMH’s Wines and Spirits division, Moët Hennessy. Before the new posting, he was executive vice president of product and communications at Tiffany & Co.
In 2023, Arnault’s eldest child, Delphine Arnault, was tapped to be the CEO of Christian Dior. His second oldest child, Antoine Arnault, is LVMH’s image and environment director.
And Jean Arnault, the youngest of the siblings, is the watch director of Louis Vuitton.
Four of his children — Delphine, Antoine, Alexandre, and Frédéric — sit on LVMH’s board of directors.
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