LVMH Lines Up Next CFO as Luxury Empire’s Succession Stakes Grow
6 months, 2 weeks ago

LVMH Lines Up Next CFO as Luxury Empire’s Succession Stakes Grow

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-- LVMH has chosen an eventual successor to its long-time chief financial officer as billionaire Bernard Arnault prepares a new generation of leaders to steer the world’s biggest luxury group. The parent company of Louis Vuitton appointed Cecile Cabanis as deputy finance director, reporting to CFO Jean-Jacques Guiony. This week, the world’s wealthiest person named his son Frederic Arnault, 29, as managing director of Financiere Agache, one of the holding companies through which the family controls its stake in LVMH Moët Hennessy Louis Vuitton SE. When Guiony joined from the investment bank Lazard Freres in September 2003, initially as deputy CFO, the market capitalization of LVMH was about €26 billion.

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