News LVMH Watches Division Announces Major Executive Changes

Hublot CEO Ricardo Guadalupe has announced that he is stepping down from his position after two decades with the company. He initially served as Managing Director for eight years, followed by another 12 years as CEO, during which he oversaw the expansion of Hublot's manufacturing capabilities and many milestones for the company, which is currently the largest watch brand within the LVMH Group.

Ricardo, 59 years old, has spent most of his life managing major companies, with extensive experience spanning four decades in the watch industry. He began his career at Bulgari in the mid-1980s before moving to Blancpain and then to Hublot. He was appointed CEO of Hublot in 2012, succeeding Jean-Claude Biver. After stepping down, Ricardo is scheduled to become Chairman Emeritus of Hublot.

Julien Tornare will succeed Guadalupe as CEO of Hublot. Tornare was appointed CEO of TAG Heuer just seven months ago, in January 2024, after Frederic Arnault was appointed CEO of LVMH's watch division. Tornare was succeeded at TAG Heuer by Antoine Pin. In this article, we mentioned the significant changes brought about by the Arnault family in the watch department.

Antoine Pin, who previously headed the watch department at Bulgari, will lead TAG Heuer. Pin's successor at Bulgari has not been officially announced yet. All new appointments will take effect on September 1, 2024.

Tag Heuer will be led by Antoine Pin, an LVMH veteran with more than three decades of experience. He has served as CEO of Bulgari's Watch Division since 2019. Under his leadership, Bulgari's Watch Division has set records for ultra-thin watches and revived classic designs.

Speaking of TAG Heuer, we mentioned in a previous article the rumors that TAG Heuer would succeed Rolex as the sponsor of Formula 1. It was reported that LVMH offered three times what Rolex was paying to the FIA. You can read the full article here.

In addition, the Swiss group Richemont has also witnessed major management changes, with new faces appointed to key executive positions within the group.