(AFP / STEPHANE DE SAKUTIN)
LVMH announced Thursday the departure of its deputy general manager, Toni Belloni, number two in the group after CEO Bernard Arnault and whose functions will be carried out by Stéphane Bianchi, current boss of the watches and jewelry division.
“At my side as Deputy CEO and member of the Board of Directors for more than two decades, Toni has been a major contributor to the success of LVMH (…). He will remain at my side to pursue strategic missions and supervise our activities in Italy”, declared Bernard Arnault quoted in the group’s press release.
Toni Belloni wished to “cease his duties as deputy general manager and chairman of the executive committee of the LVMH group and leave the board of directors the day after the general meeting which will be held on April 18”, according to the press release.
Mr. Belloni will be responsible for strategic missions with Bernard Arnault and appointed president of LVMH Italy.
Bernard Arnault “has decided to entrust Stéphane Bianchi with the operational functions carried out (until now) by Toni Belloni”, specifies the world number one luxury brand.
Consequently, Mr. Bianchi, 59 years old, “will chair the group’s executive committee and will exercise, alongside Bernard Arnault, the strategic and operational supervision of the group’s houses. He will also supervise the presidents of the regions and the digital and data transformation of the group “.
“I am delighted with his new role and am convinced that with Stéphane at my side, and with the entire executive committee and the group’s employees, we will take the success of the LVMH group even further,” declares Bernard Arnault.
It will also be proposed to the board of directors which will meet on April 18 to co-opt Wei Sun Christianson as director.
“Wei Sun Christianson’s financial culture, his understanding of the luxury market and above all his detailed and invaluable knowledge of China will be valuable assets for the board of directors,” according to Mr. Arnault.
Wei Sun Christianson was notably Managing Director China and Co-General Manager Asia Pacific of the American investment bank Morgan Stanley where she worked for almost 20 years.
In February LVMH announced that it was proposing the entry of two sons of Bernard Arnault, Alexandre and Frédéric, onto the board of directors.
Also in February, Mickaël Burke, 66, advisor to Bernard Arnault since 2023 after having been CEO of Louis Vuitton for 10 years, became CEO of the LVMH Fashion Group, a division bringing together several LVMH brands (Céline, Givenchy, Loewe, Kenzo …). He succeeded Sidney Toledano, 72, appointed advisor to Bernard Arnault and who left the LVMH executive committee.
At the beginning of January, the group announced the appointment of Frédéric Arnault as head of a new Watches division of the group. At the end of November, his older brother, Antoine Arnault, announced that he was leaving the general management of Berluti, of which he remains president.