Louis Vuitton 2004 Annual Report Download - page 78

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74
Sustainable development
Today more than half of all management positions are filled by
internal transfers. Nearly 40% of those transfers are to another
company within the Group; one out of six is to another country.
SHARING THE “VISION”
AND BEST PRACTICES
In late 1999, LVMH created the LVMH House, a management
and innovation center in London dedicated specifically to the
professional development of Group executives.
Every year, this meeting place welcomes more than 400 parti-
cipants from all over the world for forums focused on global
strategy issues such as leadership, new technologies, innova-
tion and creativity, etc.
Since 2003, LVMH House has offered a new program on “The
Art of Luxury Branding”: how is a luxury brand created and
developed? How to protect its identity? These are just a few of
the topics addressed in the program.
RETAINING THE BEST
The Group ensures that its companies apply compensation formu-
las that are best suited to involving employees in the growth stra-
tegy. For example, in France, profit-sharing plans have been set up
in all companies of the Group.
The number of beneficiaries of LVMH stock options has notably
increased since 2000.
The originality of this program lies in the fact that stock options are
granted every year based on individual performance.
Finally, an exceptional and innovative shareholding plan was laun-
ched in 2001. Under this plan known as OPAL (Options for All),
over 44,500 LVMH employees received 25 shares.
Forums at LVMH House are coached
by members of the Executive Committee and
company Presidents. Their role is to facilitate
discussions and encourage exchanges among
participants.
“The Art of Luxury Branding” Forum
at LVMH House.