LVMH names new leadership for Moët Hennessy amid challenging market conditions 

FRANCE – French luxury conglomerate LVMH has announced a major leadership transition for its wines and spirits division, Moët Hennessy.  

Jean-Jacques Guiony, LVMH’s chief financial officer for the past two decades, will take over as head of Moët Hennessy starting 1 February 2025.  

Guiony succeeds Philippe Schaus, a long-serving executive who has been with LVMH for 21 years.  

Schaus will remain involved with the company in a supportive capacity during the first half of 2025 before focusing on non-executive roles. 

Cecile Cabanis, LVMH’s current deputy finance chief, will step into the CFO role on the same date. Cabanis brings significant experience from her tenure at French dairy giant Danone, where she held key positions including finance director for the fresh-products division and later served as the group’s CFO. 

Alexandre Arnault, son of LVMH owner Bernard Arnault, will collaborate with Guiony to revitalize the wines and spirits business.  

Alexandre, currently serving as executive vice president at Tiffany & Co., will leave the U.S.-based jewelry label to assume his new responsibilities.  

At Tiffany, he spearheaded a brand transformation, including the renovation of its iconic Fifth Avenue flagship in New York City and a strategic focus on high-end products. 

This leadership change comes as Moët Hennessy navigates a challenging market environment.  

In the first nine months of 2024, the division’s revenue dropped 11 percent to €4.69 billion (US$5.08 billion), reflecting an 8 percent decline on an organic basis.  

Sales in the Cognac and Spirits segment fell 12 percent to €2.1 billion, with China’s Cognac market facing continued pressure due to weak demand and cautious retailer activity amid macroeconomic uncertainties. 

However, the U.S. market showed signs of recovery. Hennessy Cognac experienced growth in the third quarter, driven by restocking of its VS range and alignment between retail sell-in and sell-out following a period of excessive destocking earlier this year. 

Champagne sales also moderated, reflecting a normalization of post-pandemic demand, though they remained notably higher than in 2019. 

The reshuffle is expected to strengthen the company’s strategic direction as it aims to balance growth in mature markets with challenges in emerging ones. 

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