LVMH is set to appoint finance maven to its Board of Directors
Luxury beauty and 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.
This follows the news that LVMH has reported revenue growth of 23% to £69.5 billion (€79.1 billion) for 2022, with a "record performance" from Sephora boosting overall sales.
The company's selective retailing business group saw revenue increase 26% to £13 billion (€14.8 billion), driven by a "remarkable rebound" from Sephora. This follows the relaunch of Sephora in the UK in October 2022.
