LVMH Taps Cecile Cabanis to Succeed CFO in Generational Reshuffle — Update

By Michael Susin

LVMH Moet Hennessy Louis Vuitton appointed Cecile Cabanis as its future CFO as part of a wider executive reshuffle at the world's largest luxury group.

The company said Friday that Cabanis will initially report as a deputy finance director to CFO Jean-Jacques Guiony. Guiony will prepare a progressive handover, with his new responsibilities to be outlined in due course.

Cabanis has experience in several key finance positions, in particular focussed on mergers and acquisitions and financial communications. This includes a 17-year career at French yoghurt maker Danone.

The appointment is the latest move in a wider generational shift in the company's management. On Thursday, the son of LVMH Chair and Chief Executive Bernard Arnault, Frederic Arnault, was appointed managing director of Financiere Agache, one of the holding companies through which the Arnault family controls LVMH.

It comes as the company's succession plans for Bernard Arnault, now 75, remain unclear. In 2022, Arnault raised the retirement age for LVMH's chairman and CEO to 80.

"Succession planning for key positions is a strategic priority for the LVMH Group," the company said in a statement.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

June 07, 2024 12:41 ET (16:41 GMT)

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