Following the decision by Charles de Croisset, Yves-Thibault de Silguy and Nicolas Bazire to not stand for re-election as directors, and after seeking the opinion of the Governance and Compensation Committee, the LVMH Board of Directors will propose the appointments of Henri de Castries, Alexandre Arnault and Fre´de´ric Arnault to the Board of Directors at the next Annual General Meeting, to be held on April 18, 2024.

Bernard Arnault, chairman and CEO of the LVMH Group, said: “I would like to warmly thank Charles de Croisset and Yves-Thibault de Silguy for the counsel they have provided to the Group over the past fifteen years. Their outstanding contribution, their proven ability to analyse the enduring impact of decisions and outcomes, and their independent thinking, have proved to be invaluable assets, contributing to the richness of debates at board level and to the sense of enterprise that guides its members.

“Nicolas Bazire, who has been with me on the Board for 25 years, has also proposed that he stands down as a director in order to encourage evolution in the composition of the Board while respecting the principles of good governance. Nicolas is a member of the Group’s Executive Committee.

“I am delighted that Henri de Castries has agreed to join our Board. His background, his independence, and his personal and professional attributes will prove to be undeniable assets in the years ahead.

“Finally, as I have always said, LVMH is a family-run group, whose vocation is to ensure the long-term development of each of its Maisons in keeping with their identity, their heritage and their expertise. I am delighted to welcome Alexandre and Fre´de´ric to the Board. I am convinced that they will each bring interesting perspectives.”

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (HU)