Are we about to witness a new era for LVMH?

As we have just adjusted for the time change and the remnants of the Indian summer sun have officially given way to cold temperatures and a desire to hibernate, LVMH also seems to be entering a phase of total transition. In addition to facing an unprecedented crisis period and a recession affecting all levels, the group has also (or rather consequently) been forced to let go of half of its executive committee since early 2024. A ruthless personnel shake-up that spared not even the company’s most important figures, as this week it was Chantal Gaemperle, head of human resources for 17 years and one of the closest advisors to Bernard Arnault, the group’s CEO, that was laid off. But she was not the only one dismissed this week: Alessia Gargano, head of human resources for the group's beauty division, was also politely asked to leave. If these two figures were part of the inner circle of the “cashmere wolf,” renowned for their experience and loyalty to Arnault and his family, what could possibly justify these abrupt departures, and what lies ahead for the luxury giant?

According to La lettre, Gaemperle's dismissal “follows an internal investigation spanning several months conducted by the general administration and legal affairs teams,” which “focused particularly on the cumulative benefits received from the group's 75 houses.” Thus, it seems that this employee overhaul is not only intended to give the group a fresh start with a new set of employees but also to eliminate ‘disruptive elements’ who, despite their past and proximity to the luxury giant's top executives, now seem to bring more issues than solutions amid an already complicated period. Regarding new hires, it is already known that a new deputy chief financial officer, Cécile Cabanis, has joined the executive committee and will succeed the group's current CFO, Jean-Jacques Guiony. To be continued