LVMH Names Arnault Adviser Pierre Gode Deputy Chairman of Italy

LVMH Moet Hennessy Louis Vuitton SA named Pierre Gode deputy chairman of its Italian operations after the 68-year-old stepped down as chief executive officer of billionaire Bernard Arnault’s investment companies.

Gode will seek to develop cooperation and synergies between LVMH’s French and Italian businesses, Paris-based LVMH said today in a statement. He will retain his roles of LVMH deputy chairman, director and executive committee member, and will continue as a director of Christian Dior SA, LVMH said.

Gode stepped down as CEO of Arnault’s investment companies Groupe Arnault SA and Financiere Agache SA, an LVMH spokesman said earlier today. The executive, who has advised LVMH Chairman and CEO Arnault since 1984, was replaced in those positions by Florian Ollivier, chief financial officer of Dior.

Arnault is the world’s 14th wealthiest person with an estimated net worth of $30 billion, according to the Bloomberg Billionaires Index.

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