Bernard Arnault

Arnault, 73, overtook Tesla founder Elon Musk as the world's richest man last year.

Arnault’s decision to elevate Delphine to Dior CEO is the being seen as the latest in a series of moves to ensure control over LVMH remains within the family when he steps down. Analyst at investment firm Bernstein, Luca Solca told The Guardian Arnault was creating a “Darwinian contest” to succeed him – prompting comparison to the Murdoch heirs or the fictitious Roy family at the centre of the hit TV show Succession. [LVMH](/topic/lvmh) chairman and the world’s richest man, [Bernard Arnault,](/topic/bernard-arnault) has appointed his daughter Delphine to the top job at [Christian Dior](/topic/christian-dior). “Under Delphine’s leadership, the desirability of Louis Vuitton products advanced significantly, enabling the brand to regularly set new sales records,” Arnault announced Delphine’s new role at LVMH, as quoted by [Elon Musk](/topic/elon-musk) as the world’s richest man last year, with an estimated [net worth of $188bn (£155bn)](http://go.redirectingat.com/?id=44681X1458326&url=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Felon-musks-drop-fortunes-could-150104025.html&sref=https://www.independent.co.uk/life-style/fashion/bernard-arnault-daughter-delphine-dior-b2260709.html). Her promotion is part of a management reshuffle at Europe’s most valuable luxury company, with the 47-year-old taking over as the fashion house’s chief executive from Pietro Beccari.

Bernard Arnault, the chairman and CEO of luxury conglomerate LVMH, is putting his daughter in charge of Christian Dior Couture.

[prevent takeovers](https://www.afr.com/life-and-luxury/fashion-and-style/bernard-arnault-promotes-daughter-delphine-in-lvmh-reshuffle-20230112-p5cc7s) and ensure the control [stays within the bloodline](https://wwd.com/business-news/financial/lvmh-chairman-ceo-bernard-arnault-locks-in-family-ownership-of-agache-holding-company-1235259019/). Bernard Arnault’s LVMH, by the digits [75:](https://www.lvmh.com/investors/profile/financial-indicators/) Brands housed under the luxury group LVMH [€64.2 billion ($71.5 billion):](https://www.lvmh.com/investors/profile/financial-indicators/#groupe) LVMH’s revenue in 2021 [$182 billion:](https://www.bloomberg.com/billionaires/profiles/bernard-j-arnault/) Bernard’s net worth as he comfortably tops the world’s richest man. [named CEO](https://www.reuters.com/lifestyle/christian-dior-board-picks-antoine-arnault-ceo-2022-12-09/) of holding company Christian Dior SE— [which controls](https://www.forbes.com/sites/markfaithfull/2023/01/11/bernard-arnault-plans-succession-as-daughter-given-top-job-at-dior/?sh=7b70543722bf) 41% of the capital and 56% of the voting rights in the LVMH group—and vice chairman of its board of directors in early December. Bernard, who has been chairman since 1989, still has time to decide who will replace him as he weighs [extending his tenure](https://www.reuters.com/business/retail-consumer/lvmh-boss-bernard-arnault-could-extend-tenure-age-80-2022-03-16/) to the age of 80. That’s also equivalent to the [record loss](https://fortune.com/2023/01/11/elon-musk-breaks-guinness-world-record-for-largest-loss-of-wealth-in-history-after-182-billion-drop/) in the wealth of Tesla, SpaceX, and Twitter CEO Elon Musk, which cost him his apex spot on the world’s richest list. [priming and auditioning](https://www.livemint.com/Industry/tj5J54TdQcAjtBLlcHek8I/Bernard-Arnault-pits-son-versus-daughter-in-LVMH-succession.html) his two oldest children for a key job—his own—a decade ago. All five children [from two different marriages](https://www.lemonde.fr/en/summer-reads/article/2022/07/13/the-arnault-clan-and-its-factory-of-heirs_5989979_183.html) seem to be in the running for the corporate throne at the luxury empire. [second-largest brand](https://www.nytimes.com/2023/01/11/business/dealbook/lvmh-leadership-arnault.html), the company [announced on Jan. [French luxury conglomerate](https://qz.com/970211/with-the-acquisition-of-christian-dior-almost-all-of-luxury-fashion-including-gucci-and-hermes-is-now-owned-by-two-french-families-the-arnaults-and-pinaults) are all changing with this management shakeup: Delphine succeeds Pietro Beccari, who is moving onto being chairman and CEO of Louis Vuitton after his four-year stint at Dior. Under her leadership, the desirability of Louis Vuitton products advanced significantly, enabling the brand to regularly set new sales records. He’s only joined the group recently, but comes armed with experience at prestigious companies like Delphine is a great fit for the Dior role, in her father’s words

Bernard Arnault, co-founder, chairman, and chief executive officer of LVMH Moët Hennessy – Louis Vuitton SE named his daughter Delphine to run LVMH's ...

The outgoing head of Dior, Pietro Beccari, will move to replace long-time Louis Vuitton chief executive Michael Burke, BBC reported. Bernard Arnault, co-founder, chairman, and chief executive officer of LVMH Moët Hennessy – Louis Vuitton SE named his daughter Delphine to run LVMH’s second-biggest brand, Dior. Last year, LVMH lifted the age limit of its CEO, allowing the family patriarch to stay at the helm until he’s 80, Bloomberg reported.

The 73-year-old tycoon said that the appointment of Delphine, a top executive at Louis Vuitton, as head of Christian Dior Couture is the “continuation of a ...

The world’s richest man in richer than Elon Musk by $50 billion. Another son Jean is director of watch development and marketing at Louis Vuitton. The billionaire’s daughter will succeed Pietro Beccari, who has been made the chief executive of Louis Vuitton.

Luxury group LVMH's billionaire owner and the world's richest man, Bernard Arnault, has appointed his daughter Delphine as the new head of Christian Dior, ...

In a statement, Bernard Arnault commended Beccari, who has been at Dior since 2018, for his "exceptional" work at the house. Last year, the fashion house hosted a show in South Korea for the very first time. The move also comes as Dior, like the rest of the luxury fashion industry, heads into a busy season of major shows and new collections. The label has meanwhile staged increasingly ambitious shows — including a dramatic evening spectacle that used the illuminated pyramids of Giza as a backdrop for its Fall 2023 menswear collection — and expanded its presence in Asia. "Her keen insights and incomparable experience will be decisive assets in driving the ongoing development of Christian Dior." She previously spent over a decade at Dior and has been closely involved in LVMH's Prize for Young Fashion Designers.

Dior's new CEO, Delphine Arnault, is the daughter of LVMH owner Bernard Arnault, but experts warn against the practice of hiring your children.

“In a company like LVMH this is less of a problem but I see it a lot with businesses which start family-run and then need to scale. The other aspect is that the person who has been hired might have to work twice as hard to prove themselves because other people think they only got the job because they are family. “The big con is the effect it will have on other employees. She explained: “Complexities that arise within a family business tend to relate to the people issues rather than the law. [Orchestrating what analysts have called a “Darwinian contest” ](https://www.theguardian.com/business/2023/jan/11/bernard-arnault-appoints-daughter-delphine-dior-chief-executive-lvmh)is clearly working for LVMH, but would it work for any other organization? Arnault’s other four children already hold key roles in the group — [prompting questions over who is in pole position to inherit his crown in the coming years.](https://fortune.com/2022/12/07/bernard-arnault-worlds-richest-man-5-children-lvmh-real-life-succession-billionaire/)

The outgoing head of Dior, Pietro Beccari, will move to replace long-time Louis Vuitton chief executive Michael Burke. Both Ms Arnault and Mr Beccari “are well ...

The changes, which come into effect in February, follow the recent appointment of Antoine Arnault, Bernard Arnault’s eldest son, to head the family’s holding company. All five of Mr Arnault’s children hold management positions at brands in the group.