LVMH shareholders are calling for greater transparency regarding the succession plan for Bernard Arnault, who has been at the helm of the luxury goods giant for almost 40 years. The uncertainty surrounding his succession is increasingly seen as a risk for the company.
Uncertainty about succession
Arnault, who heads a group worth around €330 billion with more than 70 brands, including Dior and Tiffany, has five children involved in the company. Despite his age of 76 and the need to appoint a successor, he has not yet taken any clear steps towards retirement. Last year, he even extended the age limit for his combined role as CEO and chairman to 85.
