General
LVMH completes $20 billion acquisition of Tiffany, replaces leadership team
Following months of turbulent negotiation and an attempt to back out of the deal, luxury group LVMH has completed its $20.3 billion (US$15.8 billion) acquisition of Tiffany & Co.
The business has installed Anthony Ledru as Tiffany’s chief executive, and Alexandre Arnault as executive vice president – LMVH chief executive Bernard Arnault’s son – while Michael Burke will chair the business’ board.
Tiffany’s current chief executive Alessandro Bogliolo will remain on board to assist a smooth transition and will then depart on Jan 22, along with several other executives.
“I’m honored to have led Tiffany as a public company and contributed with such a talented team to further strengthening Tiffany’s iconic…
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