Louis Vuitton chief steps down
19/12/2012
The company described the “sudden departure” as due to the discovery of a significant health issue which he has to “focus on", but which is not said to be life threatening. Mr Constans had been appointed CEO of the luxury leathergoods group only last month.
Bernard Arnault, chairman 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 will take over as chairman and CEO of Louis Vuitton. He joined the group in 1986 as CEO of Christian Dior USA, and took charge of Louis Vuitton North America in 1993. In 1997, he moved to Paris to become deputy CEO of Christian Dior Couture. Following the acquisition of Fendi by LVMH in 2003, he was appointed CEO, and since February, has been CEO of Bulgari.
Mr Arnault added: "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."
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