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LVMH appoints Deputy Finance Director amid era of executive transitions

Chloe Burney
10 June 2024

LVMH has appointed Cécile Cabanis as Deputy Finance Director as the luxury empire sets up the succession for billionaire Bernard Arnault’s handover.

Cabanis will work alongside Jean-Jacques Guiony, LVMH’s CFO who has been at the group for 20 years, in preparation for her to succeed him. The preparation for assuming Guiony’s role is expected to take at least 18 months, according to The Financial Times.

Guiony has been a key player at LVMH since joining in 2003 from investment banking boutique Lazard. During his years at the company, LVMH has grown more than six-fold to have revenues of £72.9 billion last year.

Cécile Cabanis

Prior to her new role, Cabanis spent 17 years at French yoghurt maker Danone before joining investment firm Tikehau Capital as Deputy Chief Executive. She is also on several boards including Unibal-Rodamco-Westfield, Schneider Electric and Mediawan.

LVMH said in a statement: "Succession planning for key positions is a strategic priority for the LVMH Group. Jean-Jacques Guiony will prepare the progressive handover of his responsibilities to Cécile, ensuring a seamless transition in this essential role."

It added that Cabanis has “a proven track record with world-leading groups in a range of key finance positions, in particular, mergers and acquisitions and financial communications."

Guiony’s new responsibilities will be announced “in due time”.

This era of transition comes with a flurry of changes in executive roles. Since 2023, Arnault’s five adult children have stepped into more prominent roles within the company.

The industry awaits to see who will succeed 75-year-old Arnault, who has no intention of stepping back. Two years ago, he pushed the age limit for his role at LVMH to be raised to 80.

Last week, Arnault's son Frédéric took over as head of the family holding company Financière Agache and his daughter Delphine was recently appointed CEO of Dior.

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