Michel Lefebvre

"It was while listening to the radio in Nice that Jean Arnault learned that Bernard had bought Le Chasseur français. He was furious. He called him, but in the meantime, his son had gone to the United States. He turned to Michel Lefebvre, who immediately found an excuse for him: everything happened very quickly, Bernard didn't have time. Jean Arnault, once again, bowed down. Thus, facing his father, with the support of his grandmother, knowing how to become indispensable, working hard, masking his game, sheltered behind his appearance of a first communicant, taking risks, analyzing situations far from the fashions of the moment, using emotional strings, mastering power relations, playing three moves ahead with cold determination, Bernard Arnault succeeded in his gradual takeover of power, within the family framework. A pattern that he will reproduce later identically, adapting it to circumstances, and which will allow him, in a few years, to reach the heights of power and fortune."

"The takeover became clear when Bernard decided to buy a Piper Cheyenne plane to travel, without asking his father's permission. When Jean learned of this, he was furious. He confronted Bernard: “Why did we buy a plane?” “It was Michel Lefebvre who told me we should buy one because it's convenient and economically justified.” Jean Arnault rushed into Michel Lefebvre's office: “Are you the aviation specialist?” “No, but we thought, with Bernard, that it was a wise investment due to the increase in our turnover and the many trips we have to make throughout France.” Jean Arnault is not convinced: “I need to see you both together, this is not acceptable.” A confrontation is organized on the spot. Jean Arnault speaks, addressing only Michel Lefebvre and never meeting his son's gaze, who stares intensely at him: “Things need to be very clear, and since they don't seem to be for you, I'm going to make it clear. In this company, I am the president and no one else.” “That's obvious, Lefebvre replies.” “Not as obvious as you think. In any case, I forbid you to buy a plane. It's an unnecessary expense. Do you hear me? It's over!” Bernard Arnault said nothing. And the Piper Cheyenne, already ordered, would be delivered a few weeks later..."

"The funds for the capital increase still need to be found. On one side, Alain Clarou, on the other, Antoine Bernheim, take up their pilgrim's staff. Arnault had assured Bernheim that he could put 90 million on the table, but he actually only has 40 million, from the sale of Férinel's construction activities. Crédit Lyonnais, in which Michel Lefebvre has kept excellent contacts, is ready to advance 50 million. In any case, 90 million is by far insufficient. Lazard Bank will fully engage to bring together a solid consortium."

"In front of his father and Michel Lefebvre, he pretends to be tired and discouraged: “The deal is too risky. There are too many political pitfalls. All this is unmanageable. It's a shame, but I think I'm going to drop it.” Jean Arnault was pleased to see his son in the headlines. He expected him to be triumphant. He can't believe his ears: "You're not thinking of giving up now, are you?" Bernard will easily be convinced not to give up. And Jean Arnault will now support his son without any hesitation."

"His friend Michel Lefebvre, who succeeded him at the head of Férinel, confirmed what was now predictable: "He's a bulldozer. He's decided to take control of LVMH; he'll go all the way.""

"He agrees to take over the management, but wishes to drop the public works part of its activity, to focus only on the real estate development part, which he considers more conducive to value creation. He surrounds himself with highly qualified executives: Michel Lefebvre, the "giant" of communication and sales, Hughes Motte, a highly skilled technician, Alain Dinin, as secretary-general, today the president of Nexity, Georges Pons, former lawyer and legal director, and finally, he benefits from the advice of Pierre Godé, at the time a lawyer at the Lille bar. Ferret-Savinel becomes Ferinel, specializing in holiday residences by the sea and in the mountains and in housing construction. In this context, he has business relations with Jean-Pierre Willot and his real estate service that are looking to enhance the industrial wastelands of BSF and transform them into building plots."

"After just over two years in New York and having completed his American managerial experience, he turned his attention back to France. From the spring of 1984, he asked Michel Lefebvre and Pierre Godé, who had become a professor of commercial law at the University of Nice, to scout potential business acquisition files and make proposals to him. At the same time, he shared his plans with contacts he maintained in New York with two personalities: Claude Gros, who heads the IDI office in the United States, and François Polge de Combret, former Deputy Secretary General of the Élysée under Giscard d'Estaing, partner of the Lazard bank in New York."

"Michel Lefebvre, CEO of Ferinel, also emphasizes the need for progress in marketing and commercial policy, practices he has successfully implemented to ensure Ferinel's success in the leisure real estate sector. The listeners listen with curiosity to this young 35-year-old Polytechnician, who has just cut his teeth in the United States, full of vigor and fire, and who does not resemble the archetypal establishment bosses. The financial scope of Ferinel is indeed less significant than that of its competitors, but thanks to the sponsorship of Dreyfus Bank and Lazard Bank, Bernard Arnault, advised by Antoine Bernheim, is able to raise a round table of 400 million francs, with Ferinel's participation being only 100 million."