Management changes at Hublot and TAG Heuer: A brief analysis

The recent executive shifts, which will be made effective from September 1st, 2024, aim to strengthen the future of Hublot and TAG Heuer. These changes were announced by Frédéric Arnault, CEO of LVMH Watches Division, and they clearly represent a strategic movement to grow the brands and improve their positioning in the industry.

Let´s take a look at the people involved in these management changes:

Ricardo Guadalupe

After 20 years as Hublot's CEO, he is stepping down to become the Honorary Chairman. Industry experts report he made Hublot the top-performing watch brand within the LVMH Group, with a revenue of roughly €700M in 2023. As a watch enthusiast, I perceive that purists tend to criticise their designs and lack of authenticity but they still have fans all over the world. This transition marks the end of an era, yet I guess that Ricardo's legacy will continue to influence the brand's strategy.

Julien Tornare

The current CEO of TAG Heuer will succeed Ricardo at Hublot. His significant achievements at TAG Heuer, particularly in elevating the brand and improving market penetration, position him as an ideal leader to drive Hublot forward (much needed). 

Antoine Pin

The former General Manager of Bvlgari Horlogerie (Bvlgari´s watch division) is set to take over as the CEO of TAG Heuer to replace Julien. His international experience and deep passion for watches will be crucial in coming years to maintain the brand's competitive edge in the luxury watch industry. There is certaintly a lot to do after the Octo releases.

Conclusion

I believe these executive changes reflect a well-thought-out strategy by LVMH to strengthen its watch division and the different brands under the umbrella of the group. I am looking forward to see how Hublot and TAG Heuer perform in the near future but both have a real chance to grow and to reinforce their positions among top tier brands.