After 20 years leading Christian Dior Couture, Sidney Toledano has been appointed chairman/CEO of French multinational luxury goods conglomerate LVMH Moet Hennessy Louis Vuitton.

He becomes a member of the LVMH executive committee, and the CEOs of Celine, Givenchy, Loewe, Pucci, Kenzo, Marc Jacobs, Rossimoda and Nicholas Kirkwood will report to him.

Pietro Beccari has been appointed chairman/CEO of Christian Dior Couture after heading up Fendi since 2012, and also joins the executive committee. Fendi’s new CEO is yet to be appointed.

Also, Pierre-Yves Roussel steps down from being chairman/CEO of LVMH’s fashion group after 10 years to become special advisor to Bernard Arnault, who has controlling interest of LVMH. Roussel will also assume new management responsibilities on the executive committee, of which he has been a member for 14 years.

“Sidney Toledano is the driving force behind the huge success of Christian Dior Couture across the world,” says Arnault. “He has done an outstanding job of developing the exceptional house of Christian Dior Couture and of promoting its elegance and modernity through its highly talented team of designers.”

Arnault says Beccari’s appointment signals a new era for Christian Dior. “Having been an integral member of our group for 12 years, Pietro has an excellent track record. After several years as marketing director of Louis Vuitton, he oversaw strong growth at Fendi by expertly harnessing the creativity of Karl Lagerfeld and Silvia Venturini Fendi.”

The appointments take effect in January.