Just a week after Tiffany’s shareholders signed off on the company’s acquisition, LVMH is making key leadership changes to assimilate the company’s operation with its own.
The company has appointed Anthony Ledru as chief executive of Tiffany effective immediately. Ledru will take over the reins along with Alexandre Arnault, who will serve as executive vice president of product and communications. Arnault, the second eldest son of LVMH CEO and Chairman Bernard Arnault, has been working as the chief executive of Rimowa since 2017.
Michael Burke, the chairman and CEO of Louis Vuitton, will be joining Tiffany’s board of directors.
Ledru is taking over the position from Alessandro Bogliolo, who was expected to leave Tiffany once the deal was finalized, WWD reported. Bogliolo will stay on with the company until January 22 for a smoother transition.
“Tiffany is an iconic brand and a quintessential emblem of the global jewelry sector. We are committed to supporting Tiffany, a brand that is synonymous with love and whose Blue Box is revered around the world, with the same dedication and passion that we have applied to each of our prestigious Maisons over the years,” Arnault said. “We are optimistic about Tiffany’s ability to accelerate its growth, innovate and remain at the forefront of our discerning customers’ most cherished life achievements and memories,” he added.
Looking ahead, LVMH reportedly plans to spruce up Tiffany’s boutique locations and its product range and marketing and leverage the company’s expertise in China.