LVMH names Alexandre Arnault as deputy CEO of its wine and spirits division amid sales decline.

LVMH, the luxury conglomerate, has appointed Alexandre Arnault, the 32-year-old son of CEO Bernard Arnault, as deputy CEO of its wine and spirits division, Moët Hennessy, effective February 2025. Jean-Jacques Guiony, LVMH's current CFO, will become the CEO of Moët Hennessy, replacing Philippe Schaus. These changes come as the division faces an 8% sales decline in the first nine months of 2024, partly due to weak demand in China. Alexandre's appointment has fueled speculation about potential succession for LVMH's leadership.

November 14, 2024
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