LVMH is trying to keep Bernard Arnault, 76, in charge for nearly another decade. The company proposed changing its bylaws to raise the age limit of its chairman and CEO to 85.
Frederic Arnault, one of the five children of LVMH chairman and CEO Bernard Arnault, will become chief executive of the group's high-end Italian cashmere label Loro Piana in June, the world's biggest luxury group said in a statement on Wednesday.
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