"},"content":{"rendered":"<\/p>\n
<\/p>\n
Lvmh<\/strong> invents its managerial future…<\/p>\n <\/p>\n Jean-Jacques Guiony<\/strong>, the luxury group’s emblematic CFO<\/strong>, himself announced in a press release dated June 7 the appointment of C\u00e9cile Cabanis<\/strong> as his future replacement<\/strong>, at a date not yet specified.<\/p>\n <\/p>\n C\u00e9cile Cabanis<\/strong> will start out as Deputy CFO<\/strong>, although she will join the Group’s Executive Committee<\/strong> as of now.<\/p>\n <\/p>\n However, she will report to Jean-Jacques Guiony \u201cto begin a transition period with him, with a view to future succession<\/strong>\u201d. The current CFO will organize \u201cthe gradual handover of his responsibilities to ensure that C\u00e9cile Cabanis takes over this strategic function for Lvmh\u201d.<\/p>\n <\/p>\n <\/p>\n Although no date has been specified, we can imagine that the transition period will not last too long. A graduate of HEC (1984), Jean-Jacques Guiony<\/strong> himself joined Lvmh in 2003 as Deputy Group CFO<\/strong>, before being appointed CFO in<\/strong> 2004<\/strong>. After starting his career with Banque Nationale de Paris, Merrill Lynch in London and Lazard Fr\u00e8res’ Mergers & Acquisitions department, Jean-Jacques Guiony was appointed Group CFO.<\/p>\n <\/p>\n\n <\/p>\n Jean-Jacques Guiony<\/strong>, now 62, will not be leaving the Group<\/strong> just yet, and \u201chis new responsibilities will be announced at a later date\u201d.<\/strong><\/p>\n <\/p>\n Since 2010, he has combined his role as CFO of Lvmh with that of CEO of the renovated La Samaritaine department store<\/strong>, which is due to reopen in 2021.<\/p>\n <\/p>\n <\/p>\n C\u00e9cile Cabanis<\/strong>, 53, a graduate engineer from the Institut National Agronomique Paris-Grig<\/strong>, has \u201crecognized experience in very large groups, in diversified<\/strong> finance functions<\/strong>, particularly in M&A and financial communications\u201d.<\/p>\n <\/p>\n After starting her career in 1995 with L’Or\u00e9al<\/strong> in South Africa, she was appointed Mergers & Acquisitions Director at Orange<\/strong>. In 2004, she joined the Danone <\/strong>Group, where she stayed for 17 years.<\/p>\n <\/p>\n She distinguished herself in key positions – Director of Corporate Finance, Director of Mergers & Acquisitions, then Director of Finance for the Fresh Products division<\/strong> – before becoming Group Finance Director<\/strong> in 2015, in charge of strategy, information systems, digital transformation, purchasing and sustainable development.<\/p>\n <\/p>\n Since 2021, she has been Deputy Managing Director at Tikehau Capital<\/strong>, a company specializing in asset management.<\/p>\n <\/p>\n <\/p>\n \u201cPreparing the succession<\/strong> in key positions is one of our priorities<\/strong>\u201d, stresses the group’s press release.<\/p>\n <\/p>\n Jean-Jacques Guiony is not the first at the Number One in luxury goods to be overtaken by age.<\/p>\n <\/p>\n Last April, Antonio Belloni<\/strong>, 69<\/strong>, until then number two at the luxury group, was replaced by<\/strong> an ex-Yves Rocher man, St\u00e9phane Bianchi<\/strong>, a decade younger…<\/p>\n <\/p>\n But Sidney Toledano<\/strong>, 72<\/strong>, had already managed to keep the reins of Dior, which he had run for 20 years, until 2018, and those of LVMH Fashion Group, until January 2024<\/strong>. Michael Burke, former CEO of Louis Vuitton, then took over…Except that Sidney Toledano’s return to the helm of the division<\/strong> that includes Celine, Givenchy, Loewe, Kenzo, Marc Jacobs and Patou is imminent, according to specialist media Glitz and The Business of Fashion<\/strong>…Lvmh has not yet confirmed or denied the news.<\/p>\n <\/p>\n <\/p>\n Finally, for Bernard Arnault, the creator and CEO of Lvmh<\/strong>, it’s urgent to wait<\/strong>…His 75th birthday, in 2024, should have signaled retirement for him. Except that this age limit<\/strong> was conveniently raised to 80<\/strong> in 2022, at the Annual General Meeting.<\/p>\n <\/p>\n For their part, Bernard Arnault’s descendants continue to have access to the management bodies of the group and its satellites. Fr\u00e9d\u00e9ric Arnault<\/strong>, the fourth of the CEO’s five children, took the reins of the group’s watch business in January, before becoming deputy CEO of Financi\u00e8re Agache<\/strong> (which holds controlling stakes in Dior and Lvmh) at the beginning of June. Along with his brother Alexandre<\/strong>, Vice-Chairman of Tiffany & co, he also joined the Lvmh Board of Directors in April<\/strong>, where Delphine Arnault and Antoine Arnault<\/strong>, Bernard Arnault’s elders, already sit. The former is CEO of Dior, while the latter is CEO of Christian Dior SE and Chairman of Berluti and Loro Piana<\/strong>.<\/p>\n <\/p>\n There should be no shortage of candidates to succeed Bernard Arnault…<\/p>\n <\/p>\nNo specific handover date<\/h2>\n
Recognized experience in major groups<\/h2>\n
Lvmh prepares the next generation<\/h2>\n
Bernard Arnault: urgent to wait…<\/h2>\n
\n
\n\t\t