Lvmh, Frederic Arnault appointed managing director of the holding company

The leadership of the Arnault family's holding company, which controls Lvmh, passes to Frederic, son of the French magnate. His appointment as managing director of Financiere Agache is in addition to his role as ceo of Lvmh Watches, the recent division responsible for the Hublot, TAG Heuer and Zenithdi brands. In his new role, the 1995-born manager replaces Nicolas Bazire and will be part of the holding company's board of directors.

Thus, the generational transition that Bernard Arnault, 75 years old, is carrying out in his luxury empire continues. All five of the chairman's sons, in fact, hold top positions in the group that has in its portfolio brands such as Louis Vuitton and Dior. Frederic Arnault and his older brother Alexandre, 32, joined the Lvmh board in April, where siblings Antoine, 47, and Delphine, 49, already sat.

Now change also comes to the companies at the head of the group. The Agache holding company holds 96% of the family holding company Christian Dior, which in turn controls 42% of Lvmh.

The five children of Lvmh's chairman and CEO Bernard Arnault have in recent years gained steadily increasing positions of prominence in the luxury empire and currently all hold top management positions. Starting with Delphine Arnault, born in 1975, who became president and CEO of Christian Dior Couture in February last year. Previously, she was executive vice-president of Louis Vuitton and head of products. She was also deputy CEO of Christian Dior Couture and is a member of the Lvmh board of directors and the group's executive committee. Delphine graduated from the French business school Edhec and the London School of Economics.

The second son,Antoine Arnault, born in 1977, is head of communications, image and environment at Lvmh, as well as chairman and CEO of the holding company Christian Dior SE. He has been ceo of luxury clothing and shoe brand Berluti since 2012 and remains chairman of the brand after stepping down from the diad position earlier this year. He has been chairman of Loro Piana since 2013 and was previously head of communications at Louis Vuitton. Also a member of the Lvmh board of directors, he graduated from the French business school Insead and the Canadian business school Hec Montreal.