The world’s number one luxury company, LVMH, announced new management changes at Bernard Arnault on Thursday with a game of musical chairs between two of the CEO’s loyal collaborators, Mickael Burke and Sidney Toledano, according to a press release. Mickaël Burke, 66, advisor to Bernard Arnault since 2023 after having been CEO of Louis Vuitton for 10 years, becomes CEO of the LVMH Fashion group, a division that brings together several LVMH brands (Céline, Givenchy, Loewe, Kenzo, etc.).
He succeeds Sidney Toledano, 72, who, after 20 years at the head of Dior, has held the position since 2018. Sidney Toledano is appointed advisor to Bernard Arnault and leaves the executive committee of LVMH. These changes will be effective from February 1, it is specified. “After more than 30 years of close and fruitful collaboration”, Sidney Toledano “will have made it possible to reveal and bring to light a series of creative talents that today are among the most recognized in the world”, declares Bernard Arnault quoted in the press release .
A few days after the appointment of Frédéric Arnault as head of the Watches division
Bernard Arnault also says he is “happy” to find Michael Burke at the helm of the LVMH fashion group after “taking Louis Vuitton to new heights.” When Michael Burke leaves the position of CEO of Louis Vuitton in 2023, which he held since 2012, the brand will have exceeded 20 billion euros in annual turnover. “Present at my side even before the creation of LVMH, he was and continues to be a key player in the success of the group, especially due to the precision and delicacy of his work at the head of Fendi, Bulgari and Louis Vuitton,” he underlines. Bernard Arnault.
At the beginning of January, the group announced the appointment of Frédéric Arnault, son of Bernard Arnault, as head of a new Watch division of the group. At the end of November, his older brother, Antoine Arnault, announced that he was leaving the general management of Berluti, of which he remains president.
Source: BFM TV
