- Prachi Singh |
After spending 40 years in watchmaking, Jean-Claude Biver, LVMH said, has decided to relinquish his operational responsibilities and assume the role of non-executive Chairman of the LVMH watchmaking division. The company added that Stéphane Bianchi has now been appointed CEO of the watchmaking division, with effect from November 1, 2018. He will directly lead TAG Heuer, with the CEOs of Hublot and Zenith reporting to him. LVMH added that Frédéric Arnault has been appointed strategy and digital director of TAG Heuer.
Commenting on his decision to leave operational responsibilities, Jean-Claude Biver said: "After 45 years in the watch industry, I would like to focus more specifically on advising and sharing my experience. I am grateful to the LVMH Group for according me this honour. Stéphane and Frédéric have my full support for the future."
Stéphane Bianchi is the new CEO of LVMH’s watchmaking division
Commenting on the changes within its watchmaking division, Bernard Arnault, Chairman and CEO of LVMH, said in a statement: “I am particularly pleased that Stéphane Bianchi will lead this division. Stéphane is a very talented manager and we had decided to work together for several years. I am sure that he will continue the successful development of our watchmaking division, whilst respecting the values that Jean-Claude Biver has instilled within it".
Bianchi, a graduate of the Institut d'Etudes Politiques de Paris and a former consultant at Arthur Andersen, has spent most of his career with the Yves Rocher Group. He was CEO from 1998 to 2015, delivering strong growth and diversification of the Group. He directly led the Yves Rocher and Petit Bateau brands. Most recently, he joined the board of another family business, the Maus Group (Lacoste, Gant, etc.).
“Passionate about brands and their development, I am proud to be joining the LVMH Group as the new leader of its watchmaking division, comprised of such prestigious maisons,” said Bianchi.
"I would like to applaud Jean-Claude Biver for the decisive leadership that he has shown in his role at the head of the watchmaking division. I am delighted that the group will continue to benefit from Jean-Claude’s advice, and I am sure that his entrepreneurial spirit will bring many innovative new ideas to the world of watchmaking,” added Arnault.