Luxurygoods giant LVMH has announced with regret that Louis Vuitton CEO Jordi Constans is leaving ‘due to the discovery of a significant health issue’.
The company says that this requires that Constans must focus on this priority. Commenting on the unfortunate development, Bernard Arnault, Chairman and CEO of LVMH, said: “During his time with Louis Vuitton Jordi Constans has shown remarkable leadership which has earned him the respect of the entire team.
“He understood perfectly the opportunities for this iconic brand. On behalf of the entire group I wish Jordi a full recovery.”
MICHAEL BURKE TAKES OVER
At the same time, LVMH has announced the appointment of Michael Burke as Chairman and CEO of Louis Vuitton. He has also joined the Executive Committee of the LVMH Group.
Burke is a dual French-US citizen who joined the Group in 1986 and was the CEO of Christian Dior USA from 1986 to 1993, when he took charge of Louis Vuitton North America.
He moved to Paris in 1997 to become Deputy CEO of Christian Dior Couture (worldwide) and was appointed CEO at Fendi following its acquisition by LVMH in 2003, ‘transforming the brand into the success that it is today’, according to LVMH. Since February 2012, he has been CEO of Bulgari.
Commenting again, LVMH’s Arnault said: “I have worked with Michael Burke for many years. He has enormous experience in our business and knows Louis Vuitton well. He is a seasoned leader with a well-rounded profile, pragmatic, multi-cultural and modern.
“He has excellent skills in motivating his teams. I am convinced that he is the right leader for Louis Vuitton’s future; he will build on the initiatives launched by Jordi Constans, bringing the vision and drive to continue advancing Louis Vuitton’s leadership position in luxury.”