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Frédéric Arnault has been named as managing director of one of the holding companies through which the Arnault family controls luxury group LVMH, the latest in a series of promotions for the 29 year old.
The fourth of LVMH chief executive and chair Bernard Arnault’s five children, Frédéric Arnault will replace Nicolas Bazire as managing director of Financière Agache, the family holding confirmed.
The billionaire Arnault family owns 48 per cent of LVMH’s share capital and controls 64 per cent of the voting rights at the world’s largest luxury goods group.
Frédéric Arnault’s promotion comes after he was recently named chief executive of LVMH Watches. Frédéric and his brother Alexandre, 32, were appointed to the LVMH board in April, joining their two older siblings. All five children have roles within the luxury group and only the youngest, Jean, does not have a board seat.
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