A member of Hermes family takes up top position from 2013

Axel Dumas, Hermes International CEO from June 2013 (photo Le Figaro)

Axel Dumas, one of the nephews of Jean-Louis Dumas one of Hermes’ iconic bosses, who died in 2010, will take over next year as co-manager of Hermes International and CEO. Aged 65, the current CEO Patrick Thomas (first CEO who is not a member of the owner families of Hermes) will work from June 2013 with Axel Dumas. “I am pleased that a member of the sixth generation of the Hermes family is brought to my successor”, welcomed Patrick Thomas, appointed co-manager of the group in 2004 and manager in 2006. The latter, which is not part of the Hermes family, had recently announced his intention to step down in 2013.

The choice of Axel Dumas, currently General Manager of Operations and from the sixth generation of the Hermes family has plenty to reassure shareholders given the continued exceptional performance of Hermes in the past years. In the first quarter 2012, sales of Hermes International reached 776 million euros, an increase of 21.9% over first quarter 2011. Patrick Thomas expects higher sales in the rest of the year 2012, which would lead to new records as would cross the saddle for the first time the 3 billion euros of annual turnover on in 2012.

The heirs of the founder family now control nearly 72% stake in Hermes International. Since his surprise burst capital of Hermes, LVMH group rose to over 22% stake in Hermes proceeding by share repurchases. To preserve and strengthen the family shareholders facing potential “intruders” in the capital, the owner families have created a holding at the end of 2011, which is headed by Julie Gerrand, the cousin of Axel Dumas.