Hermès Names New CEO
Hermès International Tuesday named a sixth-generation Hermès family member to succeed Chief Executive Patrick Thomas, as the Company continues its brisk expansion which stems from robust demand of the luxury products.
Hermes International SCA, the France-based Company specializing in the design, manufacture and marketing of luxury products made the move to present a united front of the family shareholders’ after rival LVMH Moët Hennessy Louis Vuitton SA took ownership of 21.4 percent of Hermès last year July.
Axel Dumas, 42 years old, will be named joint CEO of the Company as of the end of May 2013, and will take over as CEO at an unspecified date in the future, reported the Wall Street Journal Monday.
“In 15 days’ time I will be 65 years old… for some time I have been preparing my succession,” Mr. Thomas said at the Company’s annual shareholder meeting.
Thomas, who has held the reigns of the Company since 2006, was the first non-family CEO to be appointed head of Hermès.
“I have been working with Axel for more than six years; he has all the competences for the job. I am glad a member of the Hermès family has been brought in to succeed me,” Thomas said in a statement.