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  4. LVMH's Arnault tightens family grip as daughter becomes Dior CEO
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LVMH's Arnault tightens family grip as daughter becomes Dior CEO

By Mimosa Spencer PARIS (Reuters) -LVMH Chairman and CEO Bernard Arnault tightened his family's grip on the luxury goods empire on Wednesday, putting his daughter Delphine in...
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By Mimosa Spencer

PARIS (Reuters) -LVMH Chairman and CEO Bernard Arnault tightened his family's grip on the luxury goods empire on Wednesday, putting his daughter Delphine in charge of one of its leading labels, Christian Dior, in a management revamp.

The world's largest luxury group also replaced long-time Louis Vuitton CEO Michael Burke with Pietro Beccari, head of Dior since 2018.

"Both are well respected; logical promotions within the group," said Credit Suisse analyst Natasha Brilliant.

Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior.

Burke will continue to work with Bernard Arnault, the company said in a statement.

The move follows the recent appointment of Antoine Arnault, Bernard Arnault's eldest son, to head the family holding company, replacing veteran executive Sidney Toledano.

The tightening of the family's hold on its empire also comes amid a wave of high-profile successions in other fashion companies in Europe.

As part of the management changes, the company is also folding Tiffany into the watches and jewellery division, under management of Stephane Bianchi.

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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