Bernard Arnault, the 76-year-old chairman and CEO of LVMH, is pushing for a rule change to remain in charge until he turns 85, despite current limits. Having transformed LVMH into a luxury giant, Arnault's tenure is facing scrutiny from shareholders who seek clear succession plans. Arnault's five children hold crucial roles within the company, solidifying familial influence. While shareholders value his experience, concerns exist about the implications of long leadership, including potential health issues. Despite recent stock declines amid weakened demand, Arnault’s leadership has significantly boosted LVMH's market performance historically.
"Bernard Arnault, LVMH's 76-year-old chairman, seeks to extend his leadership to age 85, prompting discussions on succession and governance within the luxury conglomerate."
"Under Arnault, LVMH's stock has soared over twentyfold in three decades, yet has fallen due to cooling demand in China, highlighting market volatility."
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