Antonio Belloni – number two at LVMH – will leave his role at the European luxury giant. The departure of one of LVMH’s strong men is part of a larger change in the company’s top management positions, led by one of the richest men in the world, Bernard Arnault.
Belloni, 69, worked side by side with the billionaire for 23 years and followed the rise of LVMH – owner of brands such as Louis Vuitton, Dior and Moet & Chandon – as one of the biggest luxury brands in the world. The Italian manager – known as “Toni” – ceases, as of April 18, to be executive director and president of the executive committee. He will, however, remain working at the company on “strategic projects” and as president of LVMH in Italy.
Stephane Bianchi, 59, will be number two, currently responsible for the brand’s watches and jewelry unit. Bianchi is a newer face at the French company, having joined in 2018 to lead Tag Heuer and the watch manufacturing unit. Much of his career was spent at the cosmetics group Yves Rocher, where he became CEO at the age of 33.
This change in Belloni’s role is the latest change in LVMH’s top ranks, after Michael Burke, former chief executive of Louis Vuitton, replaced Sidney Toledano as director of the company’s fashion group – which oversees brands such as to Céline, Loewe and Givenchy.
Bernard Arnault, who celebrated his 75th birthday this month, has been grooming the next generation of LVMH leaders as some of the most senior executives, including himself, approach retirement. According to the statutes of the company, founded by Arnault in 1987, the CEO can only remain in the position until he is 80 years old. This is why movements in the most responsible positions at LVMH are always closely monitored by the public, mainly looking for clues as to who could succeed the brand’s founder.
The French billionaire’s closest allies also played a role in training his five children who work at the company. His eldest daughter, Delphine, 48, is responsible for Christian Dior Couture; Antoine, 46, heads the communications and image office at LVMH and is non-executive chairman of Loro Piano; Alexandre, 31 years old, is Tiffany’s number two, responsible for the product segment and communication; Frederic, 29, oversees the watchmaking division; while the youngest, Jean, aged 25, is responsible for developing watches at Louis Vuitton.
Alexandre and Frederic were appointed to the LVMH board of directors in February and join Delphine and Antoine. If the appointments are approved at the annual shareholder meeting, only Jean will be left out of the company’s leadership. This step is, despite everything, merely formal, since the family controls around 64% of the voting rights in the company.
