Alexandre Arnault Named Deputy CEO of Moët Hennessy

Bernard Arnault has announced a significant leadership reshuffle at LVMH, appointing his son Alexandre Arnault as Deputy CEO of Moët Hennessy, effective February 2025. This change is part of broader executive appointments following consultations with the company's Sustainability and Governance Committee. Alexandre, currently the Executive Vice President at Tiffany & Co., will work alongside Jean-Jacques Guiony, who takes over as CEO of Moët Hennessy. The reshuffle comes at a challenging time for LVMH’s wines and spirits division, which has seen a decline in sales due to changing consumer trends and market conditions. Bernard's succession plans are under scrutiny as all five of his children hold key positions within the company. LVMH continues to navigate a tougher luxury market, highlighted by a 7% drop in organic sales in the third quarter of 2024.