The French luxury conglomerate LVMH wants to raise the age limit for how old the company's CEO can be. The proposal is to raise the age limit from the current 80 to 85 years.
The age limit was last raised in 2022.
The current CEO and founder Bernard Arnault is 76 years old and has recently signaled that he can imagine leading the luxury giant for another ten years.
Arnault has led the company since 1989. He is estimated to have a fortune of 179 billion dollars, making him the richest person in Europe according to Bloomberg's billionaire index.
LVMH has, among other things, Louis Vuitton, Christian Dior, Kenzo, Fendi, and Marc Jacobs in its fashion portfolio. In addition to this, the company owns everything from hotels to spirits manufacturers.
