By transitioning to a Paris HQ position, Alexandre gains proximity to the group’s strategic core,” an expert said of the Arnault family's succession.

Arnault, son of Bernard Arnault, one of the world’s richest men and the CEO of luxury goods conglomerate LVMH, has been considered a possible successor to his father’s empire.

Alexandre Arnault, a son of Chairman Bernard Arnault, is being elevated to deputy CEO of the luxury group’s vast wines-and-spirits division.