Alexandre Arnault, heir to LVMH, appointed to Nike's board
The son of luxury mogul Bernard Arnault is joining the sports clothing brand at a time when it is trying to revive its business.
Nike has appointed Alexandre Arnault, son of luxury magnate Bernard Arnault, to its board of directors. Alexandre Arnault, 34, is deputy CEO of Moët Hennessy, the wine and spirits division of LVMH. The appointment comes as Nike tries to revive its business after struggling with sales and losing market share. Nike's CEO, Elliott Hill, is trying to turn the business around, but the company's shares are at a 12-year low. Alexandre Arnault has a reputation for helping iconic global brands evolve and grow.
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