According to a press release, Michael Burke and Sidney Toledano, two close associates of the CEO of LVMH, will be switching roles while the group is scheduled to present its annual results for 2023 on January 25.
Michael Burke, 66, who has been advising Bernard Arnault since 2023 following a decade as the CEO of Louis Vuitton, will assume the position of CEO of the LVMH Fashion Group. This division encompasses various LVMH brands, including Céline, Givenchy, Loewe, Kenzo, and more.
Sidney Toledano, 72, who led Dior for 20 years and held the CEO position since 2018, will become an advisor to Bernard Arnault and step down from the LVMH Executive Committee. The changes are set to take effect on February 1.
In a press release, Michael Burke outlined his commitment to long-term strategies, craftsmanship, creativity, and excellence in enhancing the desirability of the houses under his purview. He emphasized a collaborative approach with the teams to innovate and set new records for the extraordinary brands.
Bernard Arnault acknowledged the departure of Sidney Toledano, emphasizing the collaborative work of over 30 years and Toledano’s role in fostering creative talents globally. Sidney Toledano expressed gratitude for the opportunity to join Dior and lead it for two decades. He also welcomed his successor at the Fashion Group and pledged to continue working with Bernard Arnault in various capacities.
Bernard Arnault expressed his delight at having Michael Burke back at the helm of the LVMH Fashion Group, citing his previous success in leading Louis Vuitton to new heights. Michael Burke, who stepped down as the CEO of Louis Vuitton in 2023, is tasked with overseeing brands such as Celine, Givenchy, Loewe, Pucci, Kenzo, Marc Jacobs, and Patou.
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