Jean-Claude Biver, head of LVMH's watchmaking division steps down

After spending 40 years in watchmaking, Jean-Claude Biver, LVMH said, has decided to relinquish his operational responsibilities and assume the role of non-executive Chairman of the LVMH watchmaking division. The company added that Stéphane Bianchi has now been appointed CEO of the watchmaking division, with effect from November 1, 2018. He will directly lead TAG Heuer, with the CEOs of Hublot and Zenith reporting to him. LVMH added that Frédéric Arnault has been appointed strategy and digital director of TAG Heuer.