In the LVMH group, the heads of the jewelry company, which is part of the holding, are being appointed. Tiffany will be run by senior executives with a proven track record of running the Louis Vuitton home.
According to official figures, the CEO of the Parisian fashion house, Michael Burke, will chair the board of directors of Tiffany, but he will not have executive powers. Anthony Ledrue, who until recently served as Louis Vuitton's Deputy General Manager for Global Trade, will become President and CEO of the company. In addition, he was previously Tiffany's Senior Vice President of the North American Market.
“I am thrilled to be back at Tiffany, America's most famous luxury company that I have admired for so long. The inclusiveness and optimism that underpin the Tiffany vision are more relevant today than ever,”said Anthony Ledru. “In addition, I am returning to a company that is at the forefront of the sector in terms of the environment and the supply chain. I am confident that the LVMH Group, with its capabilities and engagement, will help Tiffany shine with renewed vigor as part of a corporation pursuing its growth strategy and take the brand's retail business to the next level.”
Alexander Arnault, CEO of LVMH, will take over at Tiffany as Chief Executive Officer of Product and Communications. He was previously CEO of the German luxury luggage brand Rimow (LVMH).
But Tiffany's creative director Reed Krakoff and the company's general director of products and marketing, Danielle Vitale, will leave the American brand.