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Having successfully led the integration of Bulgari within LVMH, Mr. Francesco Trapani has decided to relinquish his operational duties as head of Watches and Jewelry division from 1st March 2014. He becomes an adviser to Group Chairman, Mr. Bernard Arnault, on matters relating to the Group’s jewelry operations, and remains a Director on the Board of LVMH Moët Hennessy Louis Vuitton.

The Group’s jewelry Maisons (Bulgari, Chaumet, Fred and De Beers) will now report to Mr. Belloni, LVMH Group Managing Director.

Mr. Jean-Claude Biver, currently President of Hublot, will also take responsibility for the other watch brands TAG Heuer and Zenith.

Mr. Arnault commented: “Over many years Francesco Trapani has progressively built Bulgari into a brand respected around the world for its refinement and appeal. Over the past three years, Francesco has successfully completed the integration of this prestigious brand within

our group. I am delighted that I will continue to be able to draw on his wisdom and advice in the years ahead. I am also delighted that Jean- Claude Biver has agreed to lead our wacthmaking activities. His experience and achievement within this sector speak for themselves, best illustrated by the remarkable success of Hublot. I am convinced that his entrepreneurial talent and creativity will add significant momentum to our other brands in the sector”.

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