LVMH Completes Acquisition of Tiffany, Names New Leadership
January 07 2021 - 9:26AM
Dow Jones News
By Joshua Kirby
LVMH Moet Hennessy Louis Vuitton SE said Thursday that it has
completed the acquisition of U.S. jeweler Tiffany, bringing to a
close the luxury-goods sector's biggest deal of the last year, and
revealed the business's new leadership.
The French conglomerate said Anthony Ledru will become chief
executive of Tiffany, while Alexandre Arnault, son of LVMH Chairman
and CEO Bernard Arnault, will become executive vice president,
product and communications. Both appointments are effective
immediately.
Mr. Ledru was executive vice president at LVMH's Louis Vuitton
business and was previously employed by Tiffany, while Alexandre
Arnault was CEO at LVMH's luggage maker Rimowa.
Louis Vuitton CEO Michael Burke will become chairman of
Tiffany's board of directors.
Tiffany's current CEO, Alessandro Bogliolo, will remain at
Tiffany until Jan. 22 to oversee the transition before leaving the
company.
Write to Joshua Kirby at joshua.kirby@dowjones.com;
@joshualeokirby
(END) Dow Jones Newswires
January 07, 2021 09:11 ET (14:11 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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