Bernard Arnault LVMH Page 1
LVHM Moët Hennessy Louis Vuitton CEO Bernard Arnault has run into some problems with his rather controversial Belgian citizenship application, and it is not likely to be approved.
Bernard Arnault and the men in the boardroom at LVMH can say goodbye to being members of an executive boy’s club. The company announced today that it has signed a voluntary pledge to promote more women to senior executive positions, and aims to increase the number of women on its corporate boards to 30 percent by 2015.
LVMH CEO Bernard Arnault is a powerful guy. A really powerful guy. So powerful, in fact, that he hung out with President Obama, Hillary Clinton, and Tony Blair when he made his rounds in DC last week.
In a surprisingly drama-free arrangement, LVMH has taken control of Bulgari and the Bulgari family has become a major stakeholder in LVMH. The whole thing sort of reminds us of an elementary school lunchtime transaction (I’ll trade you my chips for your Oreos!), and we mean that in a good way.
By now you probably know that LVMH is trying to take over Hermès. Despite stating that “LVMH has no intention of launching a tender offer, taking control of Hermès, nor seeking board representation,” Hermès thinks LVMH’s intentions are less than noble. Yeah, they’re pissed. So in a move that said “F off, Bernard!” Hermès invited Salma Hayek to a cocktail party celebrating the opening of its Left Bank megastore. Hayek is, of course, wife to PPR chief (and LVMH rival) François-Henri Pinault.