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LVMH’s Wines Gets a New Boss

Margareth Henriquez, president of LVMH’s Krug Champagne since 2009, will become president of LVMH’s Estates and Wines division on January 1.

Henriquez, 61, will remain at Krug while adding seven premium estates to her portfolio including Cape Mentelle in Australia, Cloudy Bay in New Zealand, Cheval des Andes in Argentina and Ao Yun in China.

Henriquez, born in Venezuela, has been at LVMH since 2001, first in South America and then more recently in Reims. At Krug, she has been credited with refocusing the prestige Champagne brand’s agenda.

Henriquez is the first South American to manage a Champagne producer and one of the few women working in the Champagne business. She replaces Jean-Guillaume Prats at Estates and Wines. Prats has moved to become president of Domaines Barons de Rothschild (Lafite), the wine estates of Eric de Rothschild and his family, which include Château Lafite Rothschild in Bordeaux.

In September, Christophe Navarre, the CEO of Moët Hennessy left LVMH. He was succeeded by Philippe Schaus, who had been head of the luxury conglomerate’s travel retailer, the DFS Group.

Bernard Arnault, chairman and CEO of the LVMH Group, the parent company of all these luxury producers and retailers, has been shaking up his management ranks at the fashion end of his business as well.

In November, Sidney Toledano was promoted to CEO of the LVMH Fashion Group. Toledano, who was the long-time CEO of Christian Dior Couture, was replaced Pietro Beccari, former CEO from Fendi. Both appointments take effect in early 2018.

And between the management shuffles, Arnault whom Forbes ranks as the 11th richest man in the world, with a net worth of approximately $41.5 billion, bought a 60 percent interest in the California cult winery Colgin Cellars.