PARIS — LVMH Moët Hennessy Louis Vuitton has postponed its annual shareholder meeting from April 16 to June 30, as the spread of the coronavirus continues to upend schedules.
In a brief statement, the luxury group said it will update shareholders with arrangements for the upcoming meeting as well as the dividend payment, citing the “current situation” as the reason for the postponement, a decision made during a board meeting Wednesday.
A number of European companies started rescheduling annual shareholder meetings and financial reporting dates last week. This includes Adidas and Beiersdorf AG, which have both postponed their annual general meetings, originally slated for May 14 and April 29, respectively. Neither has set new dates.
L’Oréal, meanwhile, plans to broadcast its AGM live from company headquarters in Clichy, France, on April 21.
Inter Parfum SA has also postponed its AGM, which was set for April 24 in Paris, and Alès Groupe put off publishing full-year 2019 results.
The world’s biggest luxury group, LVMH, has made headlines in recent days for jumping in with assistance in the fight against COVID-19 by ordering masks from China to hand over to French authorities and repurposing perfume factories to produce hand sanitizer.