Frederic Arnault 2020 appointed as CEO of Tag Heuer Amid LVMH Reshuffle

Summary

Frederic Arnault, current CEO of Tag Heuer, will carry on his role and report to Stephane Bianchi of LVMH’s watches and jewellery division. Zenith CEO, Julien Tornare, is being moved to replace him at TAG Heuer with former Richemont executive Benoit de Clerck set to oversee Zenith. The changes are part of a reshuffle within the LVMH luxury empire headed by Bernard Arnault, who remains in charge as one of the world’s wealthiest individuals. Several of his children, including Antoine and Delphine Arnault, hold key positions across the various brands. Frederic Arnault has helped elevate TAG Heuer, launching high-end, sports-focused smartwatches and including lab-created diamonds in some designs.

Continued Leadership at Tag Heuer

Since 2017, Frederic Arnault has been part of Tag Heuer, serving as CEO since 2020. He will continue in his leadership role, still reporting to Stephane Bianchi, CEO of LVMH’s watch and jewellery unit.

Company Reshuffle and Promotions

The promotion is part of a wider reshuffle within LVMH, with Julien Tornare, Zenith’s CEO, taking over at Tag Heuer and the introduction of Benoit de Clerck, formerly of Richemont, to helm Zenith. Furthermore, Tornare, de Clerck and the longstanding CEO of Hublot, Ricardo Guadalupe, will now report directly to Frederic Arnault.

The Role of the Arnault Family

The Arnault family retains significant control over the LVMH conglomerate, with all of Bernard Arnault’s children holding top positions. Bernard is among the world’s wealthiest individuals, often surpassing Elon Musk and Jeff Bezos, and shows no signs of stepping down soon. Antoine Arnault, after transitioning from the management of Berluti, closed a prominent deal to sponsor the upcoming Paris Olympic Games. Simultaneously, Delphine Arnault, Bernard’s only daughter, has been at the helm of Christian Dior, LVMH’s second-largest fashion label, since last year.

Arnault’s Influence on Tag Heuer

At TAG Heuer, Frederic boosted the brand by launching smartwatches with a sports aesthetic and by being the first within LVMH to incorporate synthetic diamonds in some of their most expensive watch designs.

These shifts within LVMH, a major luxury conglomerate, could affect forex market dynamics, especially French luxury stocks and their wider trading relationships.

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