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LVMH reshuffles leadership at Moët Hennessy amid sluggish sales
LVMH appoints Jean-Jacques Guiony as CEO at Moët Hennessy, in a bid to revive underperformance in the wine and spirits sector.
Guiony, who will transition into his new role on 1 February, will be supported by Alexandre Arnault, son of LVMH’s founder Bernard Arnault, who will take on a prominent role within the division as he leaves his position as executive vice president of product and communications at Tiffany and Co.
The change aims to reverse a period of slow performance for Moët Hennessy, where sales dropped by 8% for the first three quarters of the year, mostly due to market slowdowns in the US and China.
The decline makes it LVMH’s most challenging sector, despite owning all four of the words most valuable wine brands, lagging behind its other luxury sectors such as fashion and jewellery.
Guiony’s experience at LVMH spans more than two decades, where he led high-impact projects, including the transformation of La Samaritaine in Paris into a flagship luxury destination. In his new position, he is expected to leverage his financial awareness to tackle trade-related challenges that have impacted Cognac exports to China, as well as the possibility of new tariffs exports to the US.
Alexandre Arnault will bring his record of success in overseeing communications at Tiffany, where he strengthened the brand’s market presence. Arnault’s circle also includes a personal connection with Donald Trump, which may prove beneficial for navigating regulatory uncertainties in the American market.
Further adjustments to the leadership structure include Cecile Cabanis, Guiony’s deputy, who steps into the role of CFO of LVMH. Cabanis, who joined in June, was originally expected to succeed Guiony after an 18-month transition period but will now take on the role ahead of schedule.
As part of the transition plan, Philippe Schaus, outgoing CEO of Moët Hennessy, will remain with LVMH through mid-2025 in capacity to ensure a smooth handover following other big moves this year, such as the acquisition 1.3 hectares of vineyards in Burgundy. Schaus, who has been with LVMH for 21 years, is now set to pursue “non-executive roles”.
Additionally, Charles Delapalme, former managing director of Christian Dior Couture, will take on the role of president and CEO of Hennessy following a transition period with current CEO Laurent Boillot.
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