LVMH chairman and boss Bernard Arnault has appointed his daughter Delphine Arnault as CEO of Christian Dior in a management shake-up.

She succeeds Pietro Beccari, 55, who has headed Dior for nearly five years. He is set to take over as CEO of Louis Vuitton from Michael Burke, who will remain at LVMH.

Beccari will be a tough act to follow as he has trebled annual sales in just four years, boosting them to £5.9bn, according to estimates from Citi.

Arnault is married to French telecoms tycoon Xavier Niel, the activist investor who has caused headaches at telecoms giant Vodafone recently.

Shares jumped two per cent.

(c) 2023 City A.M., source Newspaper