Industry News: LVMH Makes Moves With Leadership Shuffle At Hublot And TAG Heuer
LVMH has been busy with leadership changes recently. Today, we received news that more key positions within the group have been addressed. Ricardo Guadalupe steps down as Hublot CEO, taking on the role of honorary president. Recently appointed TAG Heuer CEO Julien Tornare takes his place, opening up the TAG role for Antoine Pin.
Tornare took over the helm at TAG Heuer when Frédéric Arnault became the CEO of LVMH Watches earlier this year. As he will move on to Hublot on September 1st, this means he will have spent less than a year leading TAG Heuer. Considering the key position of Hublot within the group, this speaks volumes about Tornare’s reputation within LVMH.
Ricardo Guadalupe (left) with Jean-Claude Biver
LVMH shuffle: Guadalupe steps down as CEO of Hublot
Ricardo Guadalupe was the natural successor to Jean-Claude Biver at Hublot. The two had already worked together at Blancpain starting in 1994. It is no secret that Biver played a pivotal role in reviving Blancpain with Guadalupe at his side as the director of sales and marketing. Shortly after Biver moved to Hublot, Guadalupe also joined in 2004. The Big Bang launched a year later, pushing the brand to unprecedented heights.
Guadalupe took over the role of CEO in 2012, continuing on the path that had set Hublot up for success. This era now comes to an end as Guadalupe takes on the role of honorary president.
Frédéric Arnault commented, “Hublot is one of the few watchmaking manufactures that emerged and achieved such success in the 21st century by breaking design codes [and] communication barriers and exploring new frontiers in watchmaking. I would like to sincerely thank Ricardo and his teams for their fantastic work building the brand over these past 20 years. Indeed, for 8 years as managing director followed by 12 years as CEO, Ricardo truly embodied Hublot and its development, particularly through his product vision, deep industry knowledge, and relationships with all business and industrial partners. I know that Ricardo will now continue to ensure respect for the values that have led to the Maison’s success.”
Julien Tornare
The rise of Julien Tornare
Julien Tornare started his professional journey in watches at Raymond Weil 26 years ago. He is no stranger to quick ascension as he became Vacheron Constantin’s director for the Swiss market after only two years. He later became the brand’s president for the US, the HQ international sales director, and, finally, the managing director for Asia-Pacific.
Tornare switched over from Richemont to LVMH in 2017 and became the CEO of Zenith. There, he made a lasting impression, refocusing the brand on its hero lines. For outsiders, it can be hard to see the influence of a CEO, but Tornare dramatically cleaned up the Zenith collection and provided the brand with a much clearer and cohesive identity. Whether he was tasked to do the same at TAG Heuer is speculation. What is for sure is that priorities have shifted, and LVMH considers Tornare’s leadership needed at Hublot.
“I am delighted about Julien’s arrival at the head of Hublot, which marks the beginning of a new chapter dedicated to the future of our Maison and the strengthening of its unique position among leading watch brands,” Frédéric Arnault said. “I am also delighted to welcome Antoine into our Watches Division at TAG Heuer. His extensive international experience, expertise, and well-recognized passion for watches will be major assets in continuing TAG Heuer’s growth and elevation.”
Antoine Pin
Completing the LVMH shuffle: Antoine Pin takes over at TAG Heuer
With Tornare’s seat at the head of the TAG Heuer executive team table vacant, Antoine Pin takes over. Pin is an LVMH veteran who started his career at TAG Heuer in 1994 before it was part of LVMH. He began as a regional junior sales manager and later moved into product management. He formally joined LVMH when he took the role of marketing director at Zenith in 2002.
Pin would reunite with his old love TAG Heuer, now under LVMH, as the general manager of TAG Heuer Japan from 2010 to 2014. For the past five years, Pin was managing director of watches at Bvlgari.
Effective September 1st, Pin will commence his third stint at TAG Heuer. He takes over at an exciting time as the brand recently successfully launched the Glassbox collection, reinvigorated the Aquaracer, and — perhaps most importantly of all — will take on Formula 1 as head sponsor after Rolex’s departure. Rest assured Antoine Pin will have a full inbox and to-do list for the foreseeable future.
What’s next for LVMH?
In the end, we can only speculate about the motivations and intentions behind these moves. What is clear is that LVMH is taking action since reports show the watch industry is heading for possibly more challenging times. We will follow with great interest how it all pans out.
What do you think of the recent leadership shuffle at LVMH? Let us know in the comments section below!
