LVMH’s Toni Belloni to leave role as deputy to CEO Bernard Arnault

LVMH said in a statement on Thursday that after more than 23 years working alongside Bernard Arnault, and in full consultation with him, Toni Belloni has decided to relinquish his duties as Group Managing Director and Chairman of the Executive Committee of the LVMH Group and to leave the Board of Directors following the Annual General Meeting to be held on April 18, 2024. Belloni will retain certain functions within the Group. He will be in charge of strategic missions for Bernard Arnault and will be appointed President of LVMH Italy. After consultation with the Governance and Compensation Committee, Bernard Arnault has decided to entrust Stephane Bianchi with the operational functions exercised by Toni Belloni; as a result, he will chair the Group’s Executive Committee and exercise, alongside Bernard Arnault, the strategic and operational supervision of the Group’s Maisons. He will also oversee the Presidents of the Regions and the Group’s Digital and Data transformation. “At my side as Group Managing Director and member of the Board of Directors for over two decades, Toni has been a major contributor to the success of LVMH. Inspiring, curious and unfailingly loyal, he has participated in all the acquisitions of recent years and has supported the growth of the Group and its teams with agility and pragmatism. His vision of luxury, of the markets, and his work with our teams have been considerable assets.”