LVMH Managing Director Toni Belloni has decided to step down after almost a quarter of a century. He will be replaced by Stéphane Bianchi.
Pragmatism first
On 18 April, Belloni will step down from his position at Arnault’s right. He will remain linked to the company as president of LVMH Italy and Arnault’s strategic advisor. In a reaction, Arnault praises Belloni’s pragmatism and loyalty, saying Belloni was pivotal in securing the acquisitions of the past few years.
Successor Bianchi has been with LVMH for five years and currently heads the jewellery division, where he is the superior of Arnault’s sons Frédéric and Alexandre, who recently were giving management functions in the division. The upper management of LVMH seems to be in a bit of a shake-up lately, as the fashion division also was given a new director. Although he strenuously denies it, analysts point out that this may be Arnault’s strategy to prepare for an LVMH future after his departure.
