Christian Dior SE, LVMH’s main holding company, has appointed two independent directors as part of a broader restructuring. The appointments take effect immediately.
Xavier Musca, a former Credit Agricole executive, and Tony Estanguet, who led the Paris 2024 Olympics committee, will replace departing directors Nicolas Bazire and Maria Luisa Loro Piana.
The board changes come ahead of a planned merger in December between Christian Dior and the Arnault family’s holding company, Agache. The merger is intended to simplify the family’s ownership structure.
The new entity is expected to control nearly 50% of LVMH’s capital. It will hold more than 65% of LVMH’s voting rights.
The plan also includes a tender offer for the 2.44% of Dior shares not owned by the family.