The mistake Warren Buffett said LVMH’s CEO was making
LVMH CEO Bernard Arnault is one of the richest people in the world, but isn't retiring anytime soon. Arnault even made LVMHS board extend the retirement age for its chairman and CEO from 75 to 80 just so he could stay longer. But fellow business Titan Warren Buffett wrote Arnold a letter telling him he was making a mistake. According to Bloomberg, the now 93 year old still controls Berkshire Hathaway and warned Arnold that the retirement age limit was too low. Most of Arno's children are part of LVMHS board, but the patriarch hasn't named a successor yet. As of now, Arnold doesn't plan to retire, but all eyes are on the $92 billion empire and the next moves he'll make.