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LVMH’s group managing director Toni Belloni will step down, the company said on Thursday, with Stephane Bianchi taking over his operational functions, in a rare top management reshuffle at the world’s biggest luxury group.
Bianchi will chair the group’s executive committee, and, alongside Bernard Arnault, take up strategic and operational supervision of the group’s labels, the company said.
Bianchi, who joined LVMH in 2018, has moved up quickly through the ranks. He started out as chief executive of watch label Tag Heuer and the watchmaking division of the company. Two years later, his division was enlarged to encompass jewelry, and now includes Tiffany & Co.
LVMH also said that it would nominate Wei Sun Christianson to the board of directors at its annual general meeting on April 18.
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By Mimosa Spencer and Tassilo Hummel
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Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholders’ documentation guaranteeing BoF’s complete editorial independence.
