Family Squabble Looms for World’s Largest Luxury Goods Maker (Bloomberg)
LVMH Moet Hennessy Louis Vuitton SA… If you think the company’s name is a little unwieldy, try making heads or tails of family power-struggle for control, once the CEO steps down. Current CEO Bernard Arnault is 64 and could qualify for a state pension. In time, he will step time. Perhaps not any time soon, but the question of who then assumes power is a potentially destabilizing nightmare for the world’s largest maker of luxury goods. Arnault’s son, Antoine, runs shoemaker Berluti, while daughter Delphine, heads up Louis Vitton. And it appears that Arnault — France’s wealthiest man — is testing his children to find his heir apparent. Unfortunately, the competition is also testing investor patience as shares were down 1.3 percent this morning.
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