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Dior Chief Sidney Toledano steps down

Image Courtesy: vogue.com

Pietro Beccari, CEO of LVMH-owned Fendi, has been appointed as the Chief Executive of Christian Dior.

He will replace 66-year-old Sidney Toledano, who has been working with Dior for last 20 years.Dior made robust expansion under Toledano’s tenure at the company.

Beccari’s association with Dior, which was integrated into the LVMH Group earlier this year, is the beginning of a new era. He will report directly to CEO Bernard Arnault.

Meanwhile, Toledano has now been given the responsibility to oversee and lead the LVMH Fashion Group. The role is presently held by Pierre-Yves Roussel (Chairman and Chief Executive of LVMH Fashion Group).

Roussel will now serve as a Special Advisor to Bernard Arnault, effective January next year.

He joined LVMH in 2004 as Executive Vice President of Strategy and Operations and was promoted to Chief Executive in the year 2006.

LVMH, the luxury goods conglomerate, recently roped Nicola Brandolese, the former Retail Head at Italian eye wear company Luxottica in July this year.

The global fashion industry is witnessing a change in the executive roles as the young talent is coming in. Burberry’s Creative Head Christopher Bailey also left the company recently; three of Arnault’s children have also taken up senior management roles at the company.