The manager, a member of the LVMH executive committee since 2012, would pay for “increasingly discussed management” in a delicate economic situation, with sales down 11% over the last 9 months, and a tense social climate.
Still according to “La Lettre”, Philippe Schaus would be replaced by Laurent Boillot, the president of the cognac house Hennessy since the end of 2019, former boss of Guerlain perfumes from 2007 to 2019 (another flagship of Bernard Arnault’s group).
Laurent Boillot (here in front of Hennessy head office in Cognac) also chairs the prestigious Comité Colbert, the association bringing together the biggest names in French know-how and luxury.
Anne Lacaud / Archives SO
The group denies
On Friday, the LVMH group denied it, expressing surprise at “inaccurate rumors” from the Reuters agency and press titles which relayed the allegations in a letter described as “confidential”.
The Moët-Hennessy division owns and operates a portfolio of around thirty prestigious brands: Moët & Changon champagnes and Hennessy cognac of course, but also Veuve Cliquot, Dom Pérignon, Ruinart and Krug champagnes, the Bordeaux châteaux Cheval Blanc and d’Yquem, Glenmorangie whiskey and Belvedere vodka.
