By Mimosa Spencer
PARIS (Reuters) -Frederic Arnault, one of LVMH Chairman and CEO Bernard Arnault’s five children and heirs, has been promoted to the role of Chief Executive of LVMH Watches, overseeing the TAG Heuer, Hublot and Zenith brands, the luxury group said on Friday.
The 29-year-old, who has worked for Tag Heuer since 2017, including as its CEO since 2020, will continue to report to the CEO of LVMH’s watches and jewellery division Stephane Bianchi.
His promotion is part of a broader reshuffle that includes Zenith CEO Julien Tornare replacing him at TAG Heuer and the recruitment of Benoit de Clerck, a former Richemont executive, to run Zenith.
Tornare, de Clerck and longtime Hublot CEO Ricardo Guadalupe will all report to Frederic Arnault.
All of Bernard Arnault’s children hold top management positions at brands in the sprawling luxury conglomerate and have been increasingly stepping into high profile roles as the family tightens its hold on the empire.
Bernard Arnault, 74, one of the world’s richest individuals — at times moving ahead of Elon Musk and Jeff Bezos — has not indicated he plans to step down any time soon.
Antoine Arnault, who stepped back from day-to-day management of upscale menswear label Berluti at the start of the year, negotiated a high-profile deal to sponsor next summer’s Paris Olympic Games and heads the family’s holding company.
Meanwhile, Delphine Arnault, Bernard Arnault’s eldest child and only daughter, has been running LVMH’s second largest fashion label, Christian Dior, since last year.
At TAG Heuer, Frederic Arnault nudged the label upmarket, launched connected watches with a sports bent and made the first moves by LVMH to use laboratory created diamonds, incorporating them in some of the brand’s most expensive watches.
(Reporting by Mimosa Spencer, Editing by Louise Heavens and Alexander Smith)
