LVMH is preparing the succession of the CFO together with the former director of Danone

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

In a statement on Friday, parent company Louis Vuitton named Cecile Cabanis as deputy chief financial officer, reporting to Chief Financial Officer Jean-Jacques Guione. Cabanis, former chief financial officer of dairy giant Danone SA, is now deputy CEO of Tikehau Capital.

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

Guiony has been in this role for twenty years. He will have new responsibilities that will be announced in due course, LVMH added.