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Arnault tightens family grip on LVMH as daughter becomes Dior CEO

January 11, 2023 at 02:23 am

PARIS (Reuters) - Luxury goods giant LVMH announced on Wednesday a top management reshuffle, putting Delphine Arnault, the daughter of chairman and CEO Bernard Arnault, in charge of one of its leading labels, Christian Dior.

The French group also replaced long-time Louis Vuitton CEO Michael Burke with Pietro Beccari, head of Dior since 2018.

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 grip on its empire also comes amid a wave of high-profile successions in other fashion companies in Europe.

(Reporting by Sudip Kar-Gupta and Mimosa Spencer; Editing by Tom Hogue and Mark Potter)

By Mimosa Spencer

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	CHRISTIAN DIOR SE	730 EUR	-1.48%	-1.82%	145B
	LVMH	768.1 EUR	-1.41%	-3.01%	423B

Bernard Arnault

Bernard Arnault is a French businessperson who has been at the helm of 10 different companies and presently holds the position of Chairman of Christian Dior SE, Chairman for Château Cheval Blanc SC, Chairman & Chief Executive Officer at LVMH Moët Hennessy Louis Vuitton SE, Co-Chairman of Groupe Arnault SE and President for Groupe Arnault SE. He is also Chairman for Fondation Louis Vuitton pour la Création and on the board of 5 other companies. He previously held the position of Chairman & Chief Executive Officer of Ferret Savinel Co., Chairman & Chief Executive Officer for Nexity SA, Chairman & Chief Executive Officer for Société Financière Agache SA and Chairman & Chief Executive Officer at Financière Agache SA. Mr. Arnault received an undergraduate degree from Ecole Polytechnique.

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