The generational change of LVMH’s management continues. After 23 years, Toni Belloni is retiring, more or less. In agreement with Bernard Arnault, the manager will leave its roles of general director and president of the executive committee, and leave the board of directors, following the upcoming meeting scheduled for April 18th. Yet, he will remain active in the group as president of LVMH Italia and will be charged with conducting some strategic activities.
Belloni retires, more or less
“The idea isn’t to stop working. But at 69 years of age I wanted more time to spend with others, especially my family”, said Belloni (in photo) to WWD. The manager will be succeeded by Stéphane Bianchi, who joined the group in 2018 and since then showed promise. The news comes two months after the announcement of LVMH Fashion Group in regards to the substitution of Sidney Toledano with Michael Burke.
Arnault isn’t going anywhere
One not going anywhere is Bernard Arnault. Shareholders of LVMH voted in 2022 to extend the age limit from 75 to 80 when it comes to the group’s CEO. Arnault turned 75 this very month and is planning its succession. It strengthened control of the family over the group’s leadership and transferred some of the older management into consulting roles. At the next board meeting he will propose the entrance of his sons Alexandre and Frédéric into the BoD as well. The two will join Antoine and Delphine, already on the board, while the youngest son Jean will need to wait a few years.
Read also:
