LVMH names Cecile Cabanis deputy CFO, to succeed CFO in over a year

LVMH names Cecile Cabanis deputy CFO, to succeed CFO in over a year

Luxury fashion giant LVMH Moet Hennessy Louis Vuitton SE (PAR: LVMH) has announced the appointment of Cecile Cabanis as deputy chief financial officer (CFO), effective immediately [1]. Cabanis is set to take over the CFO role from current incumbent Jean-Jacques Guionandy, who will retire in over a year.

Cabanis, a seasoned financial executive with extensive experience in the luxury sector, joined LVMH in 2012 as group controller [1]. In her new role, she will be responsible for overseeing the group's financial operations, reporting to the CEO and the Board of Directors.

The appointment of Cabanis comes at a crucial time for LVMH, as the luxury goods market continues to face uncertainty due to the ongoing pandemic [1]. Despite the challenges, LVMH reported robust sales growth in 2021, driven by strong demand in Asia and a recovery in Europe [1].

LVMH's strong financial performance can be attributed to its diverse portfolio of luxury brands, which includes Louis Vuitton, Sephora, Moet Hennessy, and Fendi, among others [1]. The company's ability to adapt to changing market conditions and innovate in response to consumer preferences has also been instrumental in its success [1].

Cabanis' appointment as deputy CFO is a testament to her impressive track record and expertise in financial management at LVMH [1]. With her extensive experience and deep understanding of the luxury sector, she is well-positioned to succeed Guionandy as CFO and continue driving the company's financial growth.

References:
[1] Financial Times. LVMH appoints deputy CFO as current CFO set to retire. 14 February 2023. https://www.ft.com/content/fa6ccbf7-527f-4c56-918f-92dded502467.