LVMH Considers Age Limit Adjustment for CEO and Chairman
LVMH, a multinational luxury goods conglomerate, is contemplating a proposal to modify its age limit for the CEO and chairman positions from 80 to 85. This potential change would enable Bernard Arnault, the current CEO and chairman, to continue leading the company until he reaches 85 years of age.
The decision to adjust the age limit is set to be presented to shareholders at the company’s annual general meeting in April. The proposal is part of a broader leadership reshuffle within the company, with Frederic Arnault, Bernard’s son, assuming the role of CEO at Loro Piana.
Key Details
- Current age limit for CEO and chairman: 80 years
- Proposed age limit: 85 years
- Current CEO and chairman: Bernard Arnault (76 years old)
- New CEO at Loro Piana: Frederic Arnault
Next Steps
The proposal will be put to a vote by shareholders at the annual general meeting in April. The outcome of this vote will determine whether the age limit is adjusted.