French shareholders mourn Jean-Louis Dumas, executive managing partner of Hermès International for 28 years : he has driven the luxury goods company from a € 42 million turnover to € 1.9 billion in 2009.
Proxinvest criticised the SCA limited partnership regime that was adopted by Jean-Louis Dumas in 1989. Proxinvest does not support SCA regimes as extraordinary general shareholders meeting’s decisions are only valid if all previously approved by the unlimited partners. In addition the selection and dismissal of managers is done by the unlimited partners ant not by the supervisory board members, nor by the general meeting. However, all observers know that Jean-Louis Dumas never needed it to justify his authority as demonstrated by the fact that family related shareholders apparently remained with a majority of the non-voting shares.
Jean-Louis Dumas proved that management excellence can beautifully mix with creativity and the best human behaviour. The choice of his successor Patrick Thomas as CEO was one of his many good management decisions. Jean-Paul Gaultier quoted by Le Figaro sees him as an enlightened person, a great man : «le prototype de l’homme des Lumières, un gentilhomme éclairé, curieux, ouvert, français et international , plein de courtoisie et d’humour: un grand homme.».
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