Hermès International SCA plans to appoint BNP Paribas SA CEO Jean-Laurent Bonnafé and former French spy agency chief to Luxury Group’s Board.
The family controlled company known for its Birkin Bags named Bonafe, the CEO of France’s largest bank, is replacing Dominix Senequier (71), the vice-chair of the luxury company, who is also the CEO and founder of French private equity group Ardian. Also named Bernard Emier, who led France’s external intelligence agency DGSE for nearly seven years until January 2024, according to his LinkedIn profile.
The important role at Hermes falls into the hands of descendants of the founding family behind the leather manufacturer, which was started by Thierry Hermes in 1837, so even the major board picks come. The Executive Committee also features Cousins Pierre-Alexis Dumas and Guillaume de Seynes, respectively, who oversee the artistic orientation of the brand and manufacturing industry, respectively. The family manages 67% of Hermes’ share capital.
Changes to the board of directors submitted on Monday will be voted at the company’s shareholders meeting held in Paris on April 30th.
The former ambassador of Algeria, the UK, Turkey and Lebanon Emier will replace Alexandre Biros, former head of French Adecco Group AG. The third candidate is Cécile Béliot-Zind, CEO of Dairy Company Bel Group. Bonnafé is also an executive at Pierre Fabre SA, owner of skincare brands such as EAU Thermale Avène. Béliot-Zind and Bonnafé will be appointed for three years, while Emié’s duties will be carried out for two years.
Hermes, known for its silk scarves, is the second most valuable inventory on the French benchmark CAC40 index, after rival LVMH Moët Hennessy Louis Vuitton SE, dominated by billionaire Bernard Arnaud. Hermes has overcome the sluggish demand for luxury goods and has driven the coveted exclusivity of handbags, overcoming a better economy than some peers.
LVMH also tapped the former state employee board. Hubert Védrine, a former French foreign minister, has been a member of the board for over 20 years.
By Angelina Lascoett
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