Antoine Arnault is relinquishing his function as CEO of Berluti, guardian firm LVMH stated in an announcement on Wednesday.
The transfer has triggered an govt shuffle within the group’s watches and jewelry unit.Chaumet chief govt Jean-Marc Mansvelt will succeed Arnault on the French menswear model, whereas Fred chief govt Charles Leung will succeed Mansvelt at Chaumet, efficient January 1, 2024. Leung’s substitute will probably be introduced “in the end,” the group stated.
Arnault, eldest son of LVMH chairman and CEO Bernard Arnault, will stay chairman of Berluti, alongside his duties as chairman of Loro Piana, head of picture and atmosphere for LVMH, chief govt of holding firm Christian Dior SE and LVMH board member.
Whether or not Arnault will tackle additional tasks stays to be seen.
Be taught extra:
The Party May Be Over, but LVMH Has Moves to Make
Softening gross sales progress on the French large was the newest signal that the post-pandemic luxurious increase is over, however chairman Bernard Arnault could possibly play the weak market to his benefit.
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