Bernard Arnault, the billionaire CEO and chairman of French luxury giant LVMH, is shuffling one of his children around at his companies again. Frédéric Arnault, the chief executive's 29-year-old son,

The fashion role is expected to bolster Frédéric Arnault’s credentials as a candidate to one day lead the luxury-goods giant.

Bernard Arnault, the 76-year-old billionaire founder of LVMH, signaled he could helm the luxury group for the best part of another decade.LVMH said in a filing that it will seek to raise the age limit for the chief executive officer and chairman to 85 from the current 80 at next month’s annual general meeting.