LVMH set to appoint finance maven to Board of Directors
Luxury fashion conglomerate LVMH will propose the appointment of Laurent Mignon as a new Member of the Board of Directors at its next annual general meeting on 20 April 2023.
Laurent Mignon is a seasoned finance executive, who has been serving as Chairman of the Executive Board of Wendel, one of Europe’s leading investment firms, since 2 December 2022.
Mignon is also the Vice-Chairman of the Board of Directors of Bureau Veritas and sits on the Board of Directors of Arkema and AROP (Association pour le rayonnement de l’Opéra National de Paris). He is also a non-voting member of Oddo BHF.
In 1996, he joined Banque Schroders in London, before moving to AGF (Assurances Générales de France) in 1997 as Chief Financial Officer. In 2002, he stepped into the role of Deputy Chief Executive Officer and was later appointed Chairman of the Executive Committee in 2006.
In January, LVMH reported revenue growth of 23% to £69.5 billion (€79.1 billion) for 2022, with the fashion and leather goods segment reaching "record" levels. The luxury conglomerate saw revenues increase 25% to £33.9 billion (€38.6 billion), with Louis Vuitton revenue surpassing £17.5 billion (€20 billion) for the first time.
This also follows the news that LVMH has reportedly set its sights on aquiring Cartier, potentially joining its portfolio of jewellery brands including Tiffany & Co. and Hublot.