LVMH has officially announced the highly anticipated restructuring of its watches and jewelery division, appointing Frédéric Arnault as the new CEO of LVMH Watches.

As part of the reorganization, Julien Tornare will assume the role of CEO of TAG Heuer, succeeding Arnault. Tornare, who previously held the same position at Zenith, brings his experience to the helm of TAG Heuer. Additionally, Benoit de Clerck, former Chief Commercial Officer of Panerai, will step into Tornare's previous role at Zenith. The changes will take effect in early 2024.

This management shakeup within LVMH is likely to be the first step in a series of industry-wide transitions over the next 18 months. These changes are anticipated due to the retirement of long-time leaders and a stagnant market.

TAG Heuer's new CEO is Julien Tornare, who has been credited with leading Zenith for nearly seven years, during which the brand managed to double its revenue. Despite a less optimistic short-term outlook, Tornare starts off on a positive note. Prior to his tenure at Zenith, he spent 17 successful years at Vacheron Constantin, where he led the brand's Asia-Pacific operations during the height of the Chinese watch buying boom.

From the left: Julien Tornare, Ricardo Guadalupe and Frédéric Arnault

Replacing Tornare is Benoit de Clerck, an experienced professional with a rich background at Richemont. De Clerck, former Chief Commercial Officer of Panerai, arrived at the position thanks to his experience at IWC.

The watches and jewelry division also includes Hublot, historically the brand with the highest turnover within the division. Ricardo Guadalupe has led Hublot for almost twenty years and has been its CEO since 2012. This extended tenure not only makes Guadalupe one of the longest-serving CEOs within LVMH's watch division, but also positions him as a notable figure in the wider watchmaking industry.