By Mimosa Spencer
PARIS (Reuters) -LVMH has hired Cecile Cabanis as its deputy finance director, part of the world’s largest luxury group’s year-and-a-half long succession plan for CFO Jean-Jacques Guiony.
Cabanis, 52, once Danone CFO, joins LVMH from Tikehau Capital, where she has been deputy CEO for three years.
“Succession planning for key positions is a strategic priority for the LVMH Group,” the company said in a statement, without giving a date for when Cabanis will become CFO.
Guiony, 62, has been at LVMH for two decades, starting as deputy financial director in 2003 and becoming CFO a year later.
He has overseen LVMH’s largest acquisitions in recent years, including Bulgari in 2011 and Tiffany ten years later, hotels group Belmond in 2019 and the integration of Dior in 2017.
Cabanis joins LVMH amid a number of management reshuffles in recent months, including the promotion of Stephane Bianchi, named deputy managing director in March.
LVMH Chairman and CEO Bernard Arnault, 75, has shown no sign of stepping back, even as his five children, who all hold top management posts, rise up the ranks of his sprawling empire.
Cabanis, who reports to Guiony, is also joining the LVMH executive committee. New responsibilities for Guiony will be announced “in due time,” LVMH said.
(Reporting by Mimosa Spencer; Editing by GV De Clercq, Louise Heavens and Alexander Smith)
