Antoine Arnault is relinquishing his role as CEO of Berluti, parent company LVMH said in a statement on Wednesday.

The move has triggered an executive shuffle in the group’s watches and jewellery unit.Chaumet chief executive Jean-Marc Mansvelt will succeed Arnault at the French menswear brand, while Fred chief executive Charles Leung will succeed Mansvelt at Chaumet, effective January 1, 2024. Leung’s replacement will be announced “in due course,” the group said.

Arnault, eldest son of LVMH chairman and CEO Bernard Arnault, will remain chairman of Berluti, alongside his duties as chairman of Loro Piana, head of image and environment for LVMH, chief executive of holding company Christian Dior SE and LVMH board member.

Whether Arnault will take on further responsibilities remains to be seen.

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