THE WHAT?  Bernard Arnault has named his son Frédéric as the new managing director of Financière Agache, a family holding company that controls LVMH. This marks another significant promotion for the 29-year-old within the luxury empire

THE DETAILS  Frédéric Arnault, the fourth of Bernard Arnault’s five children, will replace Nicolas Bazire in his new role at Financière Agache. Frédéric’s latest promotion comes on the heels of his appointment as CEO of LVMH Watches and a previous tenure as CEO of TAG Heuer. Additionally, Frédéric and his brother Alexandre joined the LVMH board in April, following in the footsteps of their older siblings Delphine and Antoine.

THE WHY? This reshuffle is part of a broader strategy by Bernard Arnault to prepare for future leadership transitions. Since early 2023, Arnault has been strategically positioning his children in key roles within the company. Delphine Arnault was appointed CEO of Dior, Antoine oversees image and sustainability at LVMH, and Jean manages watchmaking at Louis Vuitton.