Sharp dividend hike for Hermès heirs
H51, the holding company that owns the majority of Hermès's capital, paid a dividend to the heirs of Emile Hermès more than 50% larger than the previous year's amount.
The group's steadfast CEO, Marc Puig, holds only a small stake in his family's namesake company, compared to some of his executive-level cousins. That imbalance is taking its toll on the firm's governance.
Through its investment arm, the Swiss watch brand is now one of the two majority shareholders in Almacantar, a property company that owns prestigious buildings in London's most sought-after areas.