P. M. Briefing : LVMH Fires Vuitton Patriarch
From Times Wire Services
PARIS —
The supervisory board of the luxury goods and drinks group LVMH Moet Hennessy Louis Vuitton fired Vuitton family patriarch Henry Racamier today from his posts as vice president and director general of the company, executives said.
The supervisory board, headed by Frederic Chandon de Brialles, “revoked the mandate” of Racamier, 77, in those jobs, they said, meaning that he was sacked. The supervisory board said this was because of legal action that Racamier had taken against LVMH as part of a fierce battle for power with Bernard Arnault, the 40-year-old financier who took over the chairmanship of LVMH in January.
