LVMH Names New Top Execs

Luxury products group LVMH (Moët Hennessy Louis Vuitton) has made several changes in its top executive posts. They include:

Antonio Belloni, previously president of Procter & Gamble’s European operations, is now chief operating officer of LVMH, a newly created position. He will report to Myron Ullman, group managing director.

Philippe Pascal, previously president of LVMH’s Wines & Spirits Group and president of Moët Hennessy since 1999, is the new president of the Watch & Jewelry Group. He replaces Christian Viros, who had led the watch and jewelry businesses since LVMH formed the division in late 1999 after buying TAG Heuer, the prestigious Swiss watch brand for which Viros was chief executive officer.

LVMH also made some appointments in its Wines & Spirits Group.

All the appointments, announced April 17, are intended to “strengthen [LVMH’s] management team to meet the demands of its increasingly international business focus and growth,” said a spokesperson. More than 80% of LVMH sales—which grew 30% in 2000—come from international markets.