LVMH Proposes Alexandre Arnault for Moncler Board

LVMH has proposed Alexandre Arnault, son of its founder Bernard Arnault, for a seat on Moncler's board following LVMH's acquisition of a 10% stake in Double R, Moncler's largest shareholder. This strategic move grants LVMH the right to appoint one board member at Moncler and two at Double R, aligning with its broader influence in the luxury sector. The proposal will be voted on at Moncler's shareholder meeting on April 16, which will also consider expanding the board from 12 to 15 members. Alexandre Arnault, currently deputy CEO of LVMH's wines and spirits division, is part of a succession plan within the Arnault family amidst ongoing challenges in the luxury market, especially in China. Other proposed board members include luxury industry veterans such as Coty CEO Sue Nabi and former Neiman Marcus CEO Geoffroy van Raemdonck. The news has positively impacted Moncler's stock, which experienced a 0.75% increase following the announcement.