In a leadership shuffle, French billionaire Bernard Arnault has named his daughter Delphine as head of Dior. The change will be effective on 1 February.

The LVMH luxury empire’s fashion house also saw another shuffle as Pietro Beccari, who has been the head of Dior since 2018, will be replacing CEO Michael Burke. 

Bernard Arnault’s daughter Delphine has been the executive vice president at Louis Vuitton since 2013. She supervised the brand's product-related activities. Prior to this, Delphine was the deputy managing director at Christian Dior Couture.

The change in the management came after the billionaire witnessed his wealth soar to new heights, leaving Elon Musk behind as the world's top billionaire late last year.

Commenting on daughter Delphine’s promotion, Bernard Arnault said the appointment is the "continuation of a career of excellence in fashion and leather goods,” reported AFP. 

Praising his daughter’s work, the billionaire said, Louis Vuitton was able to "fly from record to record" and her "sharp eye and incomparable experience will be decisive assets in the continued development of Christian Dior.”

Delphine will succeed Pietro Beccari, who will replace Michael Burke as head of Louis Vuitton. Bernard Arnault also praised Beccari and hailed his "exceptional work" as head of Dior over the past five years.

Congratulating Burke, who will take up a new position alongside him, Arnault appreciated his "great job" during 10 years at the helm of Vuitton, which helped to "widen the gap with our competition".

Portfolio manager at the Paris-based asset management firm Flornoy, Arnaud Cadart, said the appointments of Beccari and Delphine were "clear signs of trust" and a "desire to keep a balance between outside people and Arnault family members".

Cadart also revealed that Beccari is taking over a "strategic house,” whereas Delphine will head "another jewel of the group.”

Beccari, who joined LVMH in 2006, previously led LVMH-owned label Fendi and was successful in increasing the sales of Christian Dior three-fold to 6.6 billion euros during his tenure, according to media reports.

Besides Delphine, Bernard Arnault’s eldest son Antoine Arnault is also a significant part of the family business. Antoine has been the CEO of the holding company Christian Dior SE. 

He also holds other positions within the group, such as the head of communications, image and environment for LVMH as well as chairman and CEO of LVMH's holding company Christian Dior SE.

Antoine Arnault has been CEO of the upscale menswear and shoe label Berluti since 2012, and chairman of Italian cashmere specialist Loro Piana since 2013.