Axel Dumas, CEO of Hermès, to Receive 5% Salary Increase in 2026
Hermès announced Monday evening that the fixed compensation of its CEO, Axel Dumas, will be capped at a 5% increase in 2026, a rate in line with the luxury group's revenue growth last year.
In a statement, the company said that the executive management board has set its executive's annual salary at €2,929,905, up from €2,790,386 in 2025.
Hermès explained that this compensation was calculated based on the change in its consolidated revenue for the 2025 fiscal year compared to 2024, which showed a +5.5% increase in reported figures.
Regarding 2025, Axel Dumas's annual variable compensation amounted to €5,314,575, compared to €5,042,291 in 2024, representing a 5.4% rise.
As Hermès is a partnership limited by shares, its supervisory board has strictly limited powers and does not have the authority to determine executive compensation policies, which fall under the remit of the general partner, namely the Emile Hermès holding company, overseen by its management board.
Within this structure, CEO Axel Dumas is responsible for strategy and operational management, while Emile Hermès, through its management board, is in charge of vision and strategic direction.
The payment of these compensation elements remains subject to approval by the company's shareholders at the general meeting scheduled for April 17.
Since taking over as CEO in 2013, Axel Dumas—a sixth-generation member of the founding family—has succeeded in quadrupling the group's revenue, resulting in an eightfold increase in the stock price over more than 12 years.
On the Paris Stock Exchange, Hermès shares were up 0.2% in early trading on Tuesday morning.
Axel Dumas is a French businessperson who has been the head of 42 different companies. Currently, he occupies the position of Chairman for Isamyol 26, Chairman for Isamyol 24, Chairman at Hermès China Trading, Manager at MAÏA Group SA, Manager of Immauger, Manager at Axam 2, Chairman of Hermès of Paris, Inc., Chairman for Hermes Japon Co., Ltd., Chairman of Hermès Korea Ltd., Chairman for Hermès China, Chairman at Hermès Sellier SAS and Co-Executive Chairman-Management Board at Hermès International SCA. Axel Dumas is also Manager of Mathel and on the board of 5 other companies.
In the past Mr. Dumas held the position of Executive Chairman of SCI Édouard VII, Chairman at Hermes de Paris Mexico SA de CV, Chairman for Immobilière du 5 rue de Fürstemberg, Executive Chairman for SCI Boissy Nontron, Chairman at Cie Hermes De Participations 2, Chairman at Isamyol 25, Chairman for Isamyol 27, Chairman for Isamyol 28, Executive Chairman at Sci Honossy, Co-Executive Chairman at SCI Les Capucines, Chairman of Isamyol 33, Chairman of Isamyol 32, Chairman of Isamyol 31, Chairman for Isamyol 30, Chairman for Isamyol 29, Chairman at Cie Hermès De Participations 3, Chairman of Maroquinerie de Normandie, Chairman at Tannerie De Vivoin, Member-Management Board at Grafton Immobilier, Chairman of Castille Investissements Sa, Chairman at Hermes Iberica SA, Executive Chairman at Sci Auger-Hoche, Chairman of SCI Boissy les Mûriers, Chairman at Motsch-George V, Chairman of Herlee, Chairman of Hermès Retail (Malaysia) Sdn. Bhd., Chairman of Hermès of Hawaï, Chairman for Hermès Immobilier Genève, Chairman of Hermès Australia Pty Ltd., Chairman at Hermès Canada, Inc., Chairman at Hermès Grèce and Director at Créations Métaphores.
Axel Dumas received an undergraduate degree from Sciences Po and a graduate degree from Harvard Business School.
Hermès International specializes in the design, manufacturing, and marketing of luxury products. Net sales break down by family of products as follows:
- leather and saddlery goods (44.2%): purses, luggage, small leather goods, planners, writing items, saddles, bridles, riding objects and clothing, etc.;
- clothes, shoes, and accessories (28.3%);
- silk and textile products (6%);
- clock and watchmaking articles (3.4%);
- perfumes and beauty products (3.1%);
- other (15%): mainly jewelry and home decoration products.
At the end of 2025, the group had a network of 294 stores worldwide.
Net sales are distributed geographically as follows: France (9.8%), Europe (14.8%), Japan (9.9%), Asia/Pacific (41.9%), Americas (19.2%) and Middle East (4.4%).
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