Alexandre Arnault, son of Bernard Arnault, steps into a significant role within LVMH as part of a strategic leadership transition.
- Currently involved with Tiffany, Alexandre Arnault will assume the deputy CEO position of LVMH’s wines and spirits sector, marking a new phase in his career.
- Jean-Jacques Guiony has been promoted to CEO and president of Moët Hennessy, succeeding Philippe Schaus.
- Further leadership changes include Cécile Cabanis taking over as CFO for Guiony and Charles Delapalme becoming CEO of Hennessy.
- LVMH reports a slight dip in first-half 2024 revenue, with a noted decline in its wines and spirits category.
In a notable strategic move, Alexandre Arnault, currently serving as executive vice president of product, communications, and industrial at Tiffany, will transition to a deputy CEO role within LVMH’s wines and spirits sector. This appointment signifies a pivotal step in Arnault’s career and reflects the luxury conglomerate’s adaptive strategies amidst evolving market conditions. He will begin his role at the Paris headquarters on February 1, 2025, working closely with Jean-Jacques Guiony.
Jean-Jacques Guiony, who has held significant financial roles since joining LVMH in 2003, has been elevated to CEO and president of Moët Hennessy. His extensive experience as deputy finance director and CFO positions him as a natural successor to Philippe Schaus, who exits after 21 years to pursue non-executive roles. Cécile Cabanis will step into Guiony’s previous role as CFO, adding another layer to the leadership reshuffle.
Additionally, Charles Delapalme will take on the role of CEO at Hennessy, following Laurent Boillot’s tenure. Delapalme’s promotion from managing director reflects LVMH’s commitment to leveraging internal talent. Meanwhile, Guillaume Motte, president and CEO of Sephora, joins LVMH’s executive committee, further fortifying the group’s leadership team starting January 1, 2025.
Financially, LVMH faces challenges with a reported revenue of €41.7 billion for the first six months of 2024—a slight decline of 1% from the previous year. The luxury sector slowdown has impacted various areas, with profit from recurring operations dropping by 8% to €10.6 billion. While some sectors such as fashion and leather goods, perfumes and cosmetics, and selective retailing experienced modest growth, the watches and jewelry and wines and spirits categories saw declines.
This recalibration of leadership and strategy comes at a pivotal time for LVMH, as it navigates the complexities of the luxury market while positioning itself for future growth.
The leadership changes within LVMH underline its strategic adaptation in response to market challenges and its focus on future growth.
