[credit provider=”Cheng Xin”]
Jordi Constans is stepping down as CEO of Louis Vuitton, citing medical reasons. He joined the fashion house just last month.His medical condition is “not life-threatening,” but he’s unable to meet the physical demands for the job, since it requires him to be constantly travelling, a source told Miles Socha at Women’s Wear Daily.
Michael Burke, the CEO of LVMH-owned Bulgari, will take the helm of Louis Vuitton.
“I have worked with Michael Burke for many years. He has enormous experience in our business and knows Louis Vuitton well,” said LVMH CEO Bernard Arnault in a statement. “He is a seasoned leader with a well-rounded profile — pragmatic, multi-cultural and modern.”
“He has a long history with the group. He has done very well with Fendi. This is a choice for the known, rather than for the unknown,” Luca Solca, head of luxury-goods research at Exane BNP Paribas, told Bloomberg Businessweek.