Patrick Chalhoub to Step Down as CEO, Son Michael to Take Over

Patrick Chalhoub is stepping down as CEO of Chalhoub Group, with his son Michael, 37, taking over as CEO on January 1. The transition marks a pivotal moment for the Middle East's biggest luxury retail group, which manages 773 stores and 65-plus e-commerce platforms across the region. Chalhoub Group serves as the regional partner for numerous global fashion, luxury, and beauty brands, including Louis Vuitton, Christian Dior, and Sephora. Patrick will become executive chairman, after leading the company for over 20 years.

The Middle East's leading luxury retail group, Chalhoub Group, is undergoing a significant transition. After over 20 years of successful leadership, Patrick Chalhoub, the group's founder and current CEO, is stepping down and passing the baton to his son, Michael, effective January 1, 2023 [1]. This move marks a pivotal moment for the company, which manages a network of 773 retail stores and 65-plus e-commerce platforms across the region [1].

Patrick Chalhoub, who has been preparing for this moment for several years, will assume the role of executive chairman [1]. Under his guidance, Chalhoub Group has become the regional distribution and joint venture partner for numerous global fashion, luxury, and beauty brands, including Louis Vuitton, Christian Dior, Fendi, Celine, Sephora, Puig, Christian Louboutin, Versace, Jimmy Choo, and Jacquemus [1]. The company boasts a workforce of over 16,000 employees across the Middle East and North Africa [1].

Michael Chalhoub, who has been groomed for this role, has been part of the company's succession planning process for several years [1]. The group set in place a rigorous succession planning process, which included an internal and external search, involving non-family members [1]. Patrick emphasized the importance of an "orderly transmission" of leadership, ensuring a smooth handover to the next generation [1].

In preparation for the transition, Chalhoub Group restructured its advisory board, transitioned long-time employees into non-operational roles, and built a younger, more collaborative executive committee [1]. The planning process began three years ago, and the company is now well-positioned for a successful handover.

As Michael Chalhoub takes over, he inherits a company that has been a family-owned business for 70 years [1]. He has big shoes to fill, but with his father's guidance and the company's solid foundation, he is poised to lead Chalhoub Group into a new era of growth and success.

References:
[1] WWD. (2022, December 13). Patrick Chalhoub Steps Down as CEO of Chalhoub Group. Retrieved from https://wwd.com/business-news/retail/patrick-chalhoub-steps-down-as-ceo-of-chalhoub-group-1236777024/