Business News: Frédéric Arnault Named CEO Of TAG Heuer

Business News: Frédéric Arnault Named CEO Of TAG Heuer

Luxury group LVMH has just announced that Frédéric Arnault will take over as CEO of TAG Heuer, effective July 1, 2020. He has been at the company for approximately three years, most recently running strategy and digital, with a particular focus on the Connected Watch, which is clearly a priority for the brand. 

If the name Arnault sounds familiar, that’s because Frédéric’s father, Bernard Arnault, is the chairman and CEO of LVMH, and both of Frédéric’s brothers also have prominent positions in the group (Alexandre is the CEO of Rimowa and Antoine is the CEO of Berluti and the chairman of Loro Piana). However, don’t assume that Arnault’s appointment to this new position is one that was inevitable or uncalled for. He’s a veteran of both Facebook and the consulting firm McKinsey, and has worked closely with the brand’s current CEO, Stéphane Bianchi, setting a new, more forward-looking strategy for the brand. 

Frédéric Arnault at the launch of the latest TAG Heuer Connected Watch. (Photo: Courtesy LVMH)

Along with Arnault’s promotion comes another move. Bianchi has been elevated from being the CEO of TAG Heuer and the head of LVMH’s watch division (a post he took up in September 2018) to being the head of LVMH Watches and Jewelry. That means that, while he is no longer directing the day-to-day operations at TAG Heuer, he is responsible for overseeing the jewelry brands Chaumet and FRED,  as well as TAG Heuer, Hublot and Zenith. Bulgari will continue to operate under its own structure, with CEO Jean-Christophe Babin reporting to Toni Belloni, LVMH Group Managing Director. This is also all effective July 1, 2020. 

It will be extremely interesting to watch what Arnault does at TAG Heuer. Having such a young executive is unusual in the traditionally conservative watch industry, and Arnault has shown that he’s unafraid to break with tradition and try new things.

HODINKEE

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