Leadership Transition at LVMH Fashion Group: Michael Burke to hand over to Sidney Toledano

LVMH Fashion Group announces switch of roles between Michael Burke and Sidney Toledano. 

Written by Cassidy STEPHENS 

Published Jan 18, 2024 

The leading luxury products group worldwide, LVMH, disclosed on Thursday its plans to implement additional shifts in its administration around Bernard Arnault. According to a press release, the changes involve two of the CEO's trusted colleagues, Michael Burke and Sidney Toledano. 

Up until 2023, Michael Burke, 66, had advised Bernard Arnault and served as CEO of Louis Vuitton for a decade. He is set to become the CEO of the LVMH Fashion Group. His new role includes oversight of several LVMH brands including Céline, Givenchy, Loewe, Kenzo, and others. 

Burke is succeeding Sidney Toledano, 72, who was in charge of Dior for two decades before undertaking the CEO role in 2018. Sidney Toledano has been chosen to advise Bernard Arnault and therefore, will leave the LVMH Executive Committee. These adjustments will be effective from February 1.

The departure of Sidney Toledano had previously been announced by the luxury conglomerate's CEO, but the successor had not been confirmed. Bernard Arnault lauded Sidney Toledano's more than 30 years of close and successful collaboration in revealing and promoting several creative talents who are now globally recognized. 

Toledano also expressed his pleasure in working with such an entrepreneurial and long-term venture, surrounded by immense talent, unique craftsmen, and dedicated teams. He shared his delight in the prospect of a seasoned colleague succeeding him at the Fashion Group and his plans to continue advocating for French design alongside Bernard Arnault. Bernard Arnault expressed his pleasure in welcoming back Michael Burke as the head of the LVMH Fashion Group. 

Under Burke's leadership, Louis Vuitton attained new success levels. 

The brand surpassed €20 billion in yearly sales by the time he resigned as CEO in 2023, a position he had held since 2012. Bernard Arnault praised Burke’s crucial role in the success of LVMH and his accurate and calculated work at Fendi, Bulgari, and Louis Vuitton. Burke, as the new head, will manage the operations of brands, including Celine, Givenchy, Loewe, Pucci, Kenzo, Marc Jacobs, and Patou. 

He expressed his commitment to promoting the magic of these houses with their rich history, ability to innovate, and their expertise. Praising Sidney Toledano’s excellent work with these companies, he assured that he will be building on the same lines of craftsmanship, creativity, and excellence. In other recent changes at the group, Frédéric Arnault, Bernard Arnault's son, was appointed as the head of a new Watches division in early January. Antoine Arnault, his older brother, left his position as Berluti’s CEO in late November, but he stays as the chairman. 

The group will reveal its 2023 yearly results on January 25.