Bernard Arnault indicates he could lead LVMH until he’s 85

A series of management reshuffles had fueled speculation that Arnault, who has five children, was preparing his succession plans — especially as all of them now have key positions in the conglomerate.

Bernard Arnault, the 76-year-old billionaire founder of LVMH, signaled he could helm the luxury group for the best part of another decade.

LVMH said in a filing that it will seek to raise the age limit for the chief executive officer and chairman to 85 from the current 80 at next month’s annual general meeting. The age limit was last raised in 2022.

A series of management reshuffles had fueled speculation that Arnault, who has five children, was preparing his succession plans — especially as all of them now have key positions in the conglomerate.

A November re-jig included the return of Alexandre Arnault to LVMH’s Paris headquarters, from Tiffany & Co. in New York. The company said Wednesday Frederic Arnault, managing director of Financiere Agache — one of the holding companies through which the family controls its stake in LVMH Moët Hennessy Louis Vuitton SE — will lead Italian cashmere brand Loro Piana from June.

Still, the filing suggests Arnault is not thinking about imminent retirement from the company he’s led since 1989. His wealth is estimated at about $179 billion on the Bloomberg Billionaires Index, making him Europe’s wealthiest person.