The LVMH group has announced the appointment of Frédéric Arnault as the new CEO of TAG Heuer, effective 1 July, 2020. He will take over from Stéphane Bianchi, who will become head of LVMH’s new Watch and Jewellery Division that will oversee Chaumet and FRED as well as TAG Heuer, Hublot, and Zenith.
After stints at Facebook and McKinsey, Frédéric Arnault joined TAG Heuer in 2017 to manage its smartwatch development. He was appointed chief strategy and digital officer in October 2018 at the age of 23.
Four of LVMH Chairman and CEO Bernard Arnault’s children occupy senior positions within the group. Delphine Arnault is Director and Executive Vice President at Louis Vuiton, and a member of LVMH’s executive committee. Antoine Arnault is CEO of Berluti and Chairman of Loro Piana, as well as head of communication and image for LVMH. In 2016 Alexandre Arnault became co-CEO of luggage maker Rimowa. Stephanie Watin Arnault, Bernard Arnault’s niece, founded LVMH’s first e-boutique dedicated to champagne, wine, and spirits, in 2017.
In other LVMH news, private equity firm L Catterton (the ‘L’ refers to their relationship with LVMH – the Group and Bernard Arnault own 40% of the firm) have just put $400 million into Norwegian Cruise Line.
[Photo credit: LVMH]