Only a week after Richemont announced executive changes, LVMH has a re-shuffle at the top with Hublot, TAG Heuer, and Bvlgari moves
In a surprise announcement overnight, it has been announced that after 12 years as CEO of Hublot, Ricardo Guadalupe is stepping down from the role. According to LVMH, he will be taking a back seat from operational duties and has been appointed to a new role – Honorary President of Hublot. While there is not a lot of information about what this title represents, or means for Ricardo on a day-to-day basis, our strong feeling is that it is more of a figurehead role that Ricardo will take up, assisting and guiding the brand and the new CEO.
“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”
Frédéric Arnault, CEO LVMH Watch Division
Ricardo Guadalupe has had a stellar career in the luxury watch world, beginning his career as a Product Manager at Bvlgari Horlogerie. In 1994, he joined Blancpain alongside Jean-Clade Biver after the brand was acquired by The Swatch Group. In 2004, he moved across to Hublot, again working with Jean-Claude Biver, and in 2005 launched the Big Bang which ultimately put Hublot on the map. His success was recognised in 2012 when he was appointed CEO of Hublot and has since driven the brand forward, most recently setting in motion the start of their new Manufacture Facility to increase in-house movement production.
Off the back of this announcement is the news that Julien Tornare, who only 6 months ago took the CEO role at TAG Heuer will be leaving this post, and taking up his new role as CEO of Hublot. Julien has also had a very credentialed career, most notably at Zenith, serving as CEO prior to taking the top role at TAG Heuer. Before this, Julien has had multiple roles in the watch industry, with 17 years at Vacheron Constantin as Director for the Swiss Market, then as the Brand’s US President, the HQ International Sales Director, and finally as Managing Director for Asia-Pacific. Even though Julien’s stint at TAG Heuer has been short, he has helped steer the brand in the right direction and put in place plans to continue this momentum we’ve seen of late.
With Julien Tornare’s departure, we will see General Manager of Bvlgari Horlogerie, Antoine Pin succeed Julien as the new CEO of TAG Heuer. Antoine has been in his current role since 2019, but is another veteran of the watch world having started his career in TAG Heuer as a Junior Sales Manager for DFS and the Middle East before becoming Product Manager. Since then, Antoine has held several positions in LVMH Watches & Jewelry UK, TAG Heuer Japan and Korea, has overseen Bvlgari in the Greater China and Australian regions and prior to his current role, was Executive Vice President of Berluti.
” 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. I am also delighted to welcome Antoine into our Watches Division at TAG Heuer. His extensive international experience, expertise, and well-recognised passion for watches will be major assets in continuing TAG Heuer’s growth and elevation.”
Frédéric Arnault
All of these changes within LVMH will be effective from September 1st, 2024. As always with personnel changes, we can expect to see some changes to each of the businesses they head, and the vision they have for their respective brands. With the luxury goods sector seeing mixed results in the first half of 2024, and the recent changes made at Richemont, we expect it will be an exciting back end of 2024 and start to 2025!
We wish Ricardo, Julien, and Antoine all the best in their new roles.
