LVMH executive Toni Belloni is handing over his responsibilities to Stéphane Bianchi as luxury mogul Bernard Arnault defines his succession plan.
’s most trusted lieutenants, will relinquish his key duties at the French luxury conglomerate and hand over his responsibilities to Stéphane Bianchi.
Previously president of LVMH’s watches and jewelry division, the 59-year-old will also oversee the presidents of the regions and the group’s digital and data transformation, the group said. Alexandre Arnault, executive vice president of product and communications at Tiffany, and Frédéric Arnault, CEO of LVMH Watches, will join their siblingsMeanwhile, group veteran Michael Burke has succeeded Sidney Toledano, 72, at the head of LVMH Fashion Group. Toledano left the executive committee and became an adviser to Arnault in the handover,
He credited Belloni with being instrumental to the growth of LVMH, which last year became the first European company to reach a $500 billion market value. He has also played a key role in dealmaking, including LVMH’s $16.2 billion acquisition of storied American jeweler Tiffany in 2019, its largest purchase to date.“As I step down from my current role, I realize how fortunate I have been to play a leadership role at the heart of one of the most extraordinary entrepreneurial ventures of recent decades. I would like to thank Mr.
France Dernières Nouvelles, France Actualités
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