At LVMH’s annual general meeting in Paris on Thursday, CEO Bernard Arnault deflected succession questions, telling shareholders he was renewed for a decade with 99% approval last year and suggesting they revisit the topic “in seven or eight years.” The 77-year-old instead focused on making Tiffany & Co. — acquired for $16 billion in 2021 — “the world’s leading jewelry brand” within five years. In a first for the group, all five of Arnault's children, each holding executive roles, addressed shareholders. Despite a 6% decline in Q1 revenue partly due to the Middle East conflict, Arnault expressed confidence in LVMH’s trajectory. The Arnault family recently increased its stake to 50.01% of the group’s capital.

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