Fendi CEO to become head of Bulgari

LVMH said on Monday that Michael Burke, head of Italian fashion brand Fendi, would become chief executive of jeweller Bulgari in February as part of a management reshuffle following its acquisition.

As part of the deal completed over the summer, Bulgari Chief Executive Francesco Trapani took over the chairmanship of LVMH's watch and jewellery division and a replacement for him at the helm of the Italian jeweller was expected to be found.

LVMH, the world's biggest luxury group, also announced that Pietro Beccari, executive vice president, marketing and communications at Louis Vuitton, would become chief executive of Fendi, and his replacement at Vuitton would be announced later.

Burke is credited with having turned formerly family-owned Fendi into a tightly run luxury brand, and LVMH will be looking for him to apply the same skills at Bulgari.

Burke, a long-time LVMH lieutenant, started working for the group in the 1980s. His positions within LVMH include president of Dior in the United States and Louis Vuitton North American head as well as Christian Dior Couture chief operating officer.

Beccari, who is leaving Louis Vuitton to head Fendi, is also chairman of Berluti, LVMH's luxury shoe brand, which will unveil its first ready-to-wear collection in January at Paris Fashion Week.

LVMH shares, which have lost 7 percent since Jan. 1, closed down 2.71 percent at 111.35 euros.

The nomination of a replacement for designer John Galliano at LVMH's fashion brand Christian Dior is still awaited. Dior said in October it hoped to announce it before the end of the year.