PayPal Rejects $53 Billion Stripe-Advent Takeover Offer as Too Low: Report 
Uber to Acquire Delivery Hero in $14.8 Billion Deal to Expand Global Food Delivery Business 
SpaceX Stock Falls Below IPO Price as Investors Weigh Losses and Lockup Expiry 
Sam Altman Admits OpenAI Missteps, Promises Major AI Comeback Focused on User Freedom 
Eli Lilly Eyes AtaiBeckley Acquisition to Expand Psychedelic Mental Health Pipeline 
SpaceX Aborts Starship Test Flight as Engine Issue Delays Launch 
Trump Criticizes ABC, NBC and CNN for Limiting Coverage of Election Speech 
BHP Q4 Iron Ore Output Rebounds as Copper Prices Boost Revenue 
United Airlines Beats Q2 Earnings, Raises 2026 Profit Outlook Despite Higher Fuel Costs 
Volvo Cars Q2 Profit Falls as Automaker Bets on EX60 EV to Drive Recovery 
xAI Sues Man for Allegedly Using Grok to Generate AI Child Abuse Deepfakes 
Sodexo Unveils Shift & Grow 2030 Strategy, Targets Over 5% Revenue Growth by Fiscal 2030 
Volkswagen Launches €28,000 ID. Cross EV as Europe’s Electric Vehicle Demand Accelerates 
Mikron H1 2026 Sales Fall 5.9% as Automation Weakness Weighs on Profit 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Seven & i Eyes Żabka Stake in Major European Expansion Push 
Netflix Stock Drops After Weak Q3 Outlook Overshadows Mixed Q2 Earnings 
LVMH Moët Hennessy Louis Vuitton, or simply LVMH, has expanded its board by adding two members. They were revealed to be the sons of Bernard Arnault, the French billionaire who also owns the company. By adding his heirs to the board, it is clear that the richest man in the world is tightening the family’s grip on their luxury goods empire.
LVMH announced the appointment of Frederic and Alexandre Arnault to the board during the recent annual general meeting, which was held on Thursday, April 18, at the Carrousel du Louvre in Paris, France. Their addition to the executive committee strengthened their control over the French luxury company.
Shareholders’ Overwhelming Approval
Bernard’s two sons, who are 19 and 31 years old, respectively, officially joined the other family members on the board. As per Vogue Business, these appointments added new administrative roles to their current managerial positions. Frederic has been managing LVMH Watches as chief executive since January of this year, while Alexandre is the executive vice president of Tiffany’s product and communications unit.
Frederic and Alexandre’s presence undoubtedly increased the Arnault family’s representation on the company’s board. In any case, the shareholders were said to have predominantly approved the brothers’ nominations, where they received about 93% of the votes each.
Family Business Affair
The Guardian reported that Bernard’s two other children, Delphine and Antoine, are already part of the board. Currently, only Jean Arnault, the youngest child, has no seat on the committee.
“The role of the family helps to create this family spirit and enables us to take a long-term view,” the LVMH chief executive officer told reporters shortly after the conclusion of the firm’s annual general meeting.
CEO Bernard added, “Today, the share price is doing well but what interests us is ensuring that in 10 years’ time, our brands will still be as desirable or even more so than they are now and that is our objective, not the share price tomorrow morning. Our main indicator is the desirability of the brands in the long term, and I think that family continuity has the advantage of a long-term vision.”
Photo by: Christian Wiediger/Unsplash
