Frédéric Arnault has been promoted to head of LVMH’s TAG Heuer, Hublot and Zenith watch business

LVMH, a dynastic family business and $1 trillion publicly traded company, is in the process of managing the succession from one generation of the Arnault family to the next.

As WatchPro reported last summer, the organization, led by Bernard Arnault (sometimes the richest person in the world, depending on how shares in Tesla, Microsoft and the luxury group perform), is pushing its young talent into senior management positions within the 350-year-old. Dollar brand billion dollar operation, and a restructuring was in the works.

Aside from the all-conquering fashion house Louis Vuitton and the money-printing drinks conglomerate Moet Hennessy, LVMH’s biggest brands are jewelry, particularly Bulgari, and watches, led by TAG Heuer, which generated sales of around $730 million in 2022, according to estimates Morgan Stanley.

In terms of sales, Hublot is similarly sized, with fast-growing Zenith’s sales estimated at just under $120 million.

Today, Frédéric Arnault, who became CEO of TAG Heuer in 2020, is named CEO of a newly formed LVMH watch business responsible for Hublot, TAG Heuer and Zenith.

He will report to Stephane Bianchi, CEO of the LVMH Watches & Jewelry Division, which includes the powerful Bulgari.

Julien Tornare, CEO of Zenith since 2017, is appointed CEO of TAG Heuer.

Benoit de Clerck, who spent two decades at rival Richemont with global positions at IWC and Panerai – after a brief stint as regional managing director for TAG Heuer Middle East – takes the top job at Zenith.

Stephane Bianchi, CEO of LVMH’s watch and jewelry division, which includes TAG Heuer, Hublot, Zenith and Bulgari, says Frederic Arnault deserves his promotion to head the group’s watch business.

“Frederic has done a great job at TAG Heuer over the last six years,” says Mr. Bianchi.

“His unique and groundbreaking vision for the watch industry led to a spectacular transformation for TAG Heuer, which regained its reputation as a high-performance luxury watch brand in record time. “I am delighted to have Frederic join me in LVMH’s Watches and Jewelry division to lead our three watch houses and look forward to seeing what his unique insights and vision will help drive additional and sustainable growth for them,” he adds.

The restructure means Julien Tornare (TAG Heuer), Benoit de Clerck (Zenith) and Hublot CEO Ricardo Guadalupe will report to Frederic Arnault.