LVMH prepares CFO succession with former Danone executive

LVMH named a deputy to its long-time chief financial officer as the luxury group controlled by Bernard Arnault prepares for succession in the key executive role.

The parent company of Louis Vuitton appointed Cecile Cabanis as deputy finance director, reporting to CFO Jean-Jacques Guiony, it said in a statement Friday. A former CFO of dairy giant Danone SA, Cabanis is currently deputy chief executive officer of Tikehau Capital.

“Cécile will report to him as they begin a transition period to prepare for a future succession,” LVMH said, adding that she will join the company’s executive committee.

Guiony has been in the role for the past two decades. He will have new responsibilities which will be announced in due time, LVMH added.