LVMH’s ongoing management reshuffle sees Toni Belloni, group managing director and chairman of the executive committee, stepping down from his duties and leaving the board of directors after the annual general meeting on April 18, as announced by the company on Thursday.
However, Belloni will retain responsibility for “strategic missions” for LVMH founder, CEO, and chairman Bernard Arnault, while assuming the role of president of LVMH Italy.
In his place, Stéphane Bianchi, currently CEO of the watches and jewelry division, will succeed Belloni. This means he will lead the executive committee, overseeing regional presidents and the group’s digital and data transformation.
Belloni has played a crucial role in the group’s acquisitions, including Tiffany and Bulgari. Arnault praised Belloni’s contribution, stating, “Toni has been a major contributor to the success of LVMH… He has participated in all the acquisitions of recent years and has supported the growth of the group and its teams with agility and pragmatism.”
This change is part of a broader restructuring of LVMH’s top management, following Pietro Beccari’s succession of Michael Burke as chairman and CEO of Louis Vuitton in 2023, and Michael Burke’s appointment as head of LVMH Fashion Group this year.
Bernard Arnault had hinted at Bianchi’s new role during the annual earnings conference in January. Bianchi, who joined LVMH from Yves Rocher Group and has been with the group since 2018, has demonstrated strong leadership qualities.
Bernard Arnault expressed confidence in Bianchi’s ability to further LVMH’s success, stating, “I am delighted by his new role and am convinced that with Stéphane at my side… we will take the success of the LVMH group even further while respecting our values and commitments.”
Mario Ortelli, managing director of luxury consultancy Ortelli & Co., commented on the reshuffle, praising both Belloni and Bianchi and highlighting LVMH’s robust managerial talent and opportunities for career advancement.
