New faces (or almost new faces) for a new era at LVMH

It is often said that you have to go through a lot of chaos before you can put things in order and find peace. It would appear that the LVMH group has taken this doctrine to heart: between the various and sundry dismissals of its loyalists, the creation of a new executive committee and the arrival of new faces, LVMH seems ready to reset the balance sheet, starting with a freshly-formed team ready for battle. A new team that now includes Alexandre Arnault, son of Bernard Arnault, CEO of the luxury group, who has just won a place at LVMH headquarters, leaving his post at Tiffany & Co to become deputy managing director of the group's wines and spirits division.

The arrival of the 3rd child of the Arnault family, who was until now Head of Product and Communications at Tiffany since 2021 (the year LVMH acquired Tiffany), may well mark a turning point for the wines and spirits division, which saw its organic sales decline by 7% in the third quarter, amid a general slowdown in the luxury goods industry following several booming years. In his new role, he will work alongside M. Guiony, a longtime collaborator of Bernard Arnault, who is succeeding Philippe Schaus as head of the wines and spirits unit after 21 years at LVMH.

Following the early departure of Chantal Gaemperle, HR director who was dismissed after more than 17 years with the luxury giant, and Alessia Gargano, HR head of the group's beauty division, LVMH has wasted no time. At the helm of human resources is now Maud Alvarez-Pereyre, who has held HR positions in several LVMH divisions before her appointment. Regarding the position of Chief Financial Officer, Cécile Cabanis will take over from Jean-Jacques Guiony. And while Bernard Arnault remains firmly at the helm of the group with no sign of stepping down anytime soon, it is noteworthy that each of his five children currently holds a significant position within the group. His eldest daughter, Delphine Arnault, as CEO of Dior Couture, is one of the few remaining women on the company’s executive committee. Hopefully, the next appointees will bring some diversity and freshness to the group, whose composition will play a crucial role in its results.