LVMH Moet Hennessy Louis Vuitton has said the son of its current CEO, Bernard Arnault, is set to take up a new job where he will be tasked with boosting the performance of the world’s top luxury conglomerate’s struggling wine and spirits division.

By transitioning to a Paris HQ position, Alexandre gains proximity to the group’s strategic core,” an expert said of the Arnault family's succession.

LVMH owner Bernard Arnault has given his son Alexandre, who has links with the Trump family, the job of helping to turn around the group's wine and spirits business, a task that could be more difficult if the new U.