LVMH Group managing director steps down after 23 years

Toni Belloni, the right hand man to LVMH boss Bernard Arnault, has announced his departure from his current duties at the luxury fashion giant after 23 years.

Belloni most recently served as group managing director and chairman of the executive committee for the LVMH Group, and also held a position of the company’s board of directors, which he will leave following the annual general meeting scheduled for April 18.

Despite his exit from the aforementioned roles, Belloni will retain certain functions at LVMH, including overseeing “strategic missions” for Arnault and serving as president of LVMH Italy.

In a statement, Arnault said that Belloni had been a “major contributor to the success of LVMH”, having supported its growth and participated in acquisitions made in recent years.

He continued: “Toni has been an essential partner for me and a very important member of the LVMH family. I would like to thank Toni for his exceptional contribution over the last few years. He will remain at my side to pursue strategic missions and oversee our activities in Italy.”

In his own statement, Belloni said he was fortunate to have held a leadership position at the prestigious group, and thanked Arnault for the opportunity and trust he gave him during this period.

He added: “Over the past twenty years, I’ve had the privilege of sharing this life experience with dedicated and talented colleagues. Our agility, our culture of constant questioning, of striving for excellence and of valuing merit are all assets which, I am sure, will ensure the group’s long-term success.”

CEO of watches and jewellery named successor

Stepping into Belloni’s place will be Stéphane Bianchi, who is being promoted from his current role of CEO of the watches and jewellery division, which encompasses Bulgari, Hublot, Tiffany & Co. and Repossi.

Prior to this, Bianchi had initially joined the group in 2018 as CEO of Tag Heuer and the Watchmaking Division after serving as CEO of beauty giant Yves Rocher Group.

On the promotion, Arnault said: “Since joining the group, Stéphane Bianchi has demonstrated rare leadership and management qualities while immersing himself in the group’s entrepreneurial and family culture.

“I am delighted by his new role and am convinced that with Stéphane at my side, and with the entire Executive Committee and the group’s employees, we will take the success of the LVMH Group even further, while respecting our values and commitments.”