LVMH has announced that Christophe Navarre is stepping down from his position as CEO of Moët Hennessy, the group’s wine and spirits business.
Philippe Schaus, who is currently head of DFS Group, had been appointed as his replacement.
“Philippe has been with the LVMH Group for 14 years, initially contributing to the global success of Louis Vuitton as International Director, and more recently, since 2012, as leader of the evolution of DFS, making it one of the most innovative and desirable destinations to buy luxury products,” said Bernard Arnault, chairman and CEO of the LVMH Group.
“I am confident that Philippe will be an excellent leader to help Moët Hennessy achieve even greater success in the future.”
Navarre, who was head of Hennessy for 20 years and subsequently Moët Hennessy, is leaving the position to focus full time on his investment fund Neptune International.
“I would like to sincerely thank Christophe Navarre for his hard work and commitment to the success of LVMH,” said Arnault.
“In less than a quarter of a century, his leadership has enabled Moët Hennessy to strengthen its position as one of the most iconic and profitable groups in its sector.”
Last month, LVMH reported that Moët Hennessy recorded organic revenue growth of 10% to €2.29 billion in the first half of 2017, driven by sales if Champagne and Hennessy cognac.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.