As the year progresses, more fashion and jewelry brands are thinking forward in the march towards adapting to this fluctuating market. LVMH is one of those conglomerates that has the future of their companies in mind, handing the reigns to a younger generation of entrepreneurial leaders. One such example is the latest appointment of Tag Heuer's newest CEO. Effective July 1st, Frédéric Arnault will be taking on the CEO position at the world-renowned brand.
He was the brains behind the design phase of Tag Heuer's more recent Connected watch campaign. Tag Heuer said in a statement regarding Arnault's newest position, that it will be essential in “supporting innovation and accelerating the development of TAG Heuer.”
Arnault is the 25-year-old son of Bernard Arnault, chairman, and chief executive officer at LVMH Moët Hennessy, boasting an apparent title of the richest man in France. Frédéric Arnault was once a student of the École Polytechnique in France, starting his career at Facebook, then working at the consulting firm McKinsey. Later, he was appointed cheif strategy and digital officer in October 2018. Stéphane Bianchi, who is the current CEO of TAG Heuer, will be getting moved into the role of LVMH's CEO of Watches and Jewelry division. He will be watching over brands and jewelry ateliers Chaumet and Fred, as well as watch brands, TAG Heuer, and Hublot and Zenith. Both Jean-Marc Mansvelt, managing director of Chaumet, and Charles Leung, managing director of Fred, will be reporting to Bianchi.
“It fills me with pride to see Frédéric succeed me at the helm of TAG Heuer after the key role he has played in its strategic repositioning,” Bianchi said in the same statement. “He has carved out a place for digital at the heart of the company’s aspirations, restored real momentum to the collections, all the while skillfully managing the development and launch of the hugely successful third Connected watch generation. Frédéric is passionate about watchmaking, and I am convinced that he and his management team are best placed to lead this wonderful Maison to the heights of achievement it deserves.”
Information originally sourced from JCK.