LVMH has announced significant leadership changes as part of its ongoing management reshuffle. Long-serving CFO Jean-Jacques Guiony will transition to CEO of Moët Hennessy, replacing Philippe Schaus, while Alexandre Arnault, Bernard Arnault’s second son, takes on the role of deputy CEO for the wines and spirits division. Their appointments are effective February 1, 2025.

The division, overseeing iconic brands like Moët & Chandon, Veuve Clicquot, and Hennessy, faces hurdles after an 8% drop in sales during the first nine months of 2024, with a sharper 7% decline in Q3. Factors include weakened demand in China, post-Covid normalization in champagne consumption, and the potential for U.S. tariffs on luxury alcohol after Donald Trump’s election.

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Alexandre Arnault will now head the Moet-Hennessy division handling LVMH’s luxury spirits.

Charles Delapalme, formerly Dior’s managing director, will now serve as CEO of Hennessy, succeeding Laurent Boillot, whose next role has not yet been disclosed.

Moët Hennessy is actively exploring new growth avenues. Recent ventures include a minority investment in French Bloom, a premium alcohol-free sparkling wine, and the launch of SirDavis, a new whisky created in partnership with Beyoncé. The company also retains a 50% stake in Jay-Z’s champagne brand, Armand de Brignac, acquired in 2021.

Further reshuffles include Maud Alvarez-Pereyre being named executive vice president of human resources, succeeding Chantal Gaemperle, who steps down after 17 years. Guillaume Motte, CEO of Sephora, will also join the LVMH executive committee.

These strategic appointments underscore LVMH’s focus on driving growth and navigating the evolving market landscape.