Mind Uncharted Explore. Discover. Learn.
LVMH Fashion Group Prepares for New Leadership
LVMH Moët Hennessy Louis Vuitton is set to appoint a new head for its Fashion Group division as current leader Sidney Toledano transitions to a new role within the company, according to chairman and CEO Bernard Arnault. Speaking at the annual general meeting of shareholders, Arnault praised Toledano’s work during his almost three-decade career with LVMH, noting that he would move to a new position within the company. Arnault did not comment specifically on reports that veteran LVMH executive Michael Burke was in line to replace Toledano.
Successor to Be Announced in Coming Months
An anonymous source with knowledge of the situation said that the identity of Toledano’s successor would be revealed within the next few months, but that no decision had yet been finalized.
Burke Praised for Effective Leadership
Arnault also praised former Vuitton CEO and current LVMH executive Michael Burke, who stepped down from his role at Vuitton earlier this year. The LVMH CEO noted that Burke was instrumental in helping Louis Vuitton become the first luxury brand to generate revenues of more than €20bn in a single year. Burke has been linked as a potential successor to Toledano, having worked closely with Arnault since the founding of LVMH in the 1980s.
