Yahoo Finance LVMH Appoints Deputy Finance Director, Signaling a Succession Plan
Signaling another planned succession at LVMH Moët Hennessy Louis Vuitton, Cécile Cabanis is joining the French luxury giant as deputy finance director, effective June 10, WWD has learned.
Cabanis joins LVMH from Paris-based asset management firm Tikehau Capital, where she has been deputy chief executive officer since 2021, and reports to Jean-Jacques Guiony, chief financial officer.
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According to an internal announcement seen by WWD, Guiony “will prepare the progressive handover of his responsibilities to Cécile, ensuring a seamless transition in this essential role for our group. His new responsibilities will be announced in due time.”
It is understood the transition period will last about 18 months.
The handover echoes Guiony’s history with LVMH. He joined the group in 2003 as deputy finance director and was named chief financial officer the next year.
A graduate of the HEC business school, Guiony started out in 1985 as a research analyst with Banque Nationale de Paris and then with Merrill Lynch in 1988 in London. He joined the mergers and acquisitions department of Lazard Frères in 1990, was named a partner in 1997 and then head of M&A in 2000.
At LVMH, he personally followed some of the group’s biggest acquisitions, including Bulgari in 2011, Loro Piana in 2013, hospitality firm Belmond Ltd. in 2019, and Tiffany & Co. in 2020.
One of the most admired CFOs in Europe, Guiony, 62, is prized for his straightforward and kind manner, steely command of both numbers and soft details, and smooth leadership style.
Behind the scenes, he helped digitalize and automate several processes that streamlined feedback from the group’s various houses, which span from fashion and leather goods to wines and spirits, yielding relevant management tables on a daily basis.
He is currently also chairman and CEO of Samaritaine Paris, a role he has held since 2010.
The Frenchman has been awarded the honorary title of Chevalier de la Légion d’Honneur.
It is understood Guiony was directly involved in the recruitment process to ensure a smooth succession.
An engineering graduate from the Institut National Agronomique Paris-Grignon, Cabanis started her career in 1995 as a logistics manager and financial controller at L’Oréal in South Africa. In 2000, she joined French telecoms giant Orange as deputy director of mergers and acquisitions.
But she is best known for her 18-year career at Danone Group where she held a number of positions in finance and M&A, eventually becoming CFO of the group in 2015.
Cabanis also becomes a member of the LVMH executive committee.
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