Sidney Toledano, chairman and CEO of LVMH Moet Hennessy Louis Vuitton, is moving on to another role within the French luxury group LVMH. The same old story: the people who go up are the same people you see when they come down.
At the annual shareholders meeting, Mr. Arnault was pleased to thank Mr. Toledano for his leadership over the past three decades at LVMH.
“I wanted to highlight the exceptional work he has done. He is not leaving. He will be moving on to other roles,” Arnault said. I had the feeling that I was in the serie of Trumps “the Apprentice” and the director says to sydney, you are fired.
“We will continue to work together in a different setting. I won’t say any more about it, but I’ll tell you about it anyway next year. A big thank you, Sidney, for the great job you’ve done over the years,” BLA BLA BLA BLA BLA.
An independent news site reported that Michael Burke, another veteran LVMH executive, was the favorite to succeed Mr. Toledano as head of the Fashion Group. Mr. Toledano’s successor will be announced in the coming months, but the decision has not yet been made. Continue reading
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A statement will be released shortly regarding Jeremy Scott’s departure from Moschino after 10 years as creative director.
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