THE WHAT? The eldest son of Bernard Arnault, Antoine Arnault has been named CEO of Christian Dior SE, the family holding company that owns the majority of the family’s stake in LVMH, according to a report published by Reuters.
THE DETAILS Antoine succeeds Sidney Toledano and his appointment follows an adjustment in the legal structure of the family’s investment.
THE WHY? The LVMH Chairman has yet to name his successor at LVMH but this latest move has led to speculation that Antoine will be next in line for the top job at the luxury goods conglomerate. On the other hand, Reuters points out that in April, the owner of Louis Vuitton raised the maximum age of its CEO to 80 from 75. Bernard Arnault is currently 73.